Banking Awareness Quiz
Banking Awareness Quiz – Set 290: Quiz on Monetary Policy Committee. This set contains 20 important questions based on Monetary Policy Committee. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other promotional banking exams as well. So attempt this Monetary Policy Committee Quiz now.
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- Who conducts Monetary Policy operations in India?
A) State Bank of India
B) Reserve Bank of India
C) Ministry of Finance
D) All of the above
- In India, the inflation target is decided by whom?
A) State Governments
B) Central Government
C) Reserve Bank of India
D) Public Sector Banks
- What is the present inflation target set by the Central Government?
A) 2 % with a tolerance band of +/- 2%
B) 3 % with a tolerance band of +/- 2%
C) 4 % with a tolerance band of +/- 2%
D) 5 % with a tolerance band of +/- 2%
- Central Government has decided the Inflation target for the 5-year period – April 1, 2021 to March 31, 2026 with the upper tolerance limit of ___ percent and the lower tolerance limit of ___ percent.
A) 4; 2
B) 8; 4
C) 6; 4
D) 6; 2
- In India, the inflation target is defined in terms of _________.
A) WPI
B) CPI
C) IIP
D) Both WPI and CPI
- Which of the following statement/s is true in terms of inflation target?
A) It is defined in terms of the Consumer Price Index, once in every three years.
B) It is defined in terms of the Consumer Price Index, once in every five years.
C) It is defined in terms of the Consumer Price Index, once in every four years.
D) It is defined in terms of the Consumer Price Index, once in every six years.
- Which of the following committee has been formed by the Central Government to keep the inflation target in control?
A) Monetary Policy Committee
B) Inflation Check Committee
C) Monetary Targeting Committee
D) Inflation Targeting Committee
- The Monetary Policy Committee has been formed for which of the following institution?
A) SEBI
B) SIDBI
C) FPRDA
D) RBI
- The Monetary Policy Committee has how many members?
A) 4
B) 3
C) 5
D) 6
- How many external members are there in the Monetary Policy Committee?
A) 2
B) 4
C) 3
D) 5
- Who is the Chairperson of the Monetary Policy Committee?
A) Finance Minister of India
B) Cabinet Secretary
C) Governor of Reserve Bank of India
D) Deputy Governor of Reserve Bank of India
- What is the tenure of appointment of external members in the Monetary Policy Committee?
A) 3 years
B) 4 years
C) 5 years
D) 6 years
- The three external members of the Monetary Policy Committee (MPC) are appointed by the Central Government on the basis of the recommendation of a six-membered Search-cum-Selection Committee. Who is the head of this committee?
A) Cabinet Secretary
B) Governor of RBI
C) Deputy Governor of RBI
D) Secretary, Department of Economic Affairs
- The Monetary Policy Committee (MPC) has been formed by the Central Government under which Act/framework?
A) Banking Regulation Act 1949
B) Reserve Bank of India Act, 1934
C) Monetary Policy Committee Act, 2016
D) Both A and B
- What is the minimum number of meeting that the Monetary Policy Committee (MPC) has to conduct every year as per the provisions of RBI Act?
A) 3
B) 5
C) 4
D) 6
- What is the quorum for the meeting of this Monetary Policy Committee?
A) 3
B) 4
C) 5
D) 2
- The minutes of the Monetary Policy Committee meeting is published on which day by RBI after the meeting?
A) 10
B) 8
C) 14
D) 16
- What is the periodicity of the Monetary Policy Report published by RBI?
A) annually
B) half yearly
C) quarterly
D) monthly
- Which of the following is considered a failure to achieve the inflation target?
A) the average inflation is more than the upper tolerance level (presently 6%) of the inflation target for any eight consecutive quarters
B) the average inflation is more than the upper tolerance level (presently 8%) of the inflation target for any six consecutive quarters
C) the average inflation is more than the upper tolerance level (presently 2%) of the inflation target for any four consecutive quarters
D) the average inflation is more than the upper tolerance level (presently 6%) of the inflation target for any three consecutive quarters
- Which of the following is considered a failure to achieve the inflation target?
A) the average inflation is less than the lower tolerance level (presently 2%) for any three consecutive quarters.
B) the average inflation is less than the lower tolerance level (presently 2%) for any two consecutive quarters.
C) the average inflation is less than the lower tolerance level (presently 2%) for any four consecutive quarters.
D) the average inflation is less than the lower tolerance level (presently 2%) for any six consecutive quarters.
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