Banking Awareness Based on Monetary Policy | Daily Banking Awareness Quiz

Banking Awareness Based on Monetary Policy | Daily Banking Awareness Quiz

Banking Awareness Quiz for SBI Clerk, SBI PO, RBI, IBPS PO/Clerk/RRB/SO & other Banking & competitive exams 2020-21. Banking Awareness is an important part of any banking and Financial exam. You can Attempt Banking Awareness Quiz.

Topic- Monetary Policy

Q1. Who regulates monetary policy in India?
(a) The Reserve Bank of India
(b) Finance ministry
(c) NITI Aayog
(d) Finance Commission
(e) None of these

Q2. What is the primary objective of monetary policy?
(a) Price stability
(b) Foreign Reserve
(c) Regulating Current account deficit
(d) Regulating FDI
(e) None of these

Q3. In which year the RBI Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework?
(a) May 2014
(b) May 2016
(c) April 2013
(d) May 2015
(e) July 2012

Q4. An empowered six-member monetary policy committee (MPC) was constituted by the Central Government by notification in the Official Gazette after amending RBI Act, 1934 by?
(a) The Finance Act, 2012
(b) The Finance Act, 2015
(c) The Finance Act, 2016
(d) The Finance Act, 2010
(e) The Finance Act, 2014

Q5. Who is the chairperson of the six-member monetary policy committee (MPC)?
(a) Finance minister
(b) Finance Secretary
(c) Governor of the RBI
(d) Deputy Governor of RBI
(e) None of these

Q6. Members of the monetary policy committee (MPC) will hold office for a period of?
(a) 2 years or until further orders (whichever is earlier)
(b) 5 years or until further orders (whichever is earlier)
(c) 3 years or until further orders (whichever is earlier)
(d) 4 years or until further orders (whichever is earlier)
(e) None of these

Q7. Who determines the policy interest rate required to achieve the inflation target?
(a) The monetary policy committee
(b) The Fiscal policy committee
(c) Annual Budget Committee
(d) Planning commission
(e) None of these

Q8. The MPC is required to meet at least _____ times in a year.
(a) Five
(b) Six
(c) Four
(d) Three
(e) one

Q9. What is the quorum for the meeting of the MPC?
(a) 3 members
(b) 5 members
(c) 8 members
(d) 4 members
(e) 2 members

Q10. In the event of an equality of votes who has the power of a second or casting vote?
(a) Governor of the RBI
(b) Deputy governor of RBI
(c) Finance minister
(d) Finance Secretary
(e) None of these

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