Banking Awareness Quiz based on RBI And Its Function | Daily Banking Awareness Quiz

Banking Awareness Quiz based on RBI And Its Function | 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 

RBI And Its Function

Q1. Which denomination note was the first paper currency issued by RBI in January 1938?
(a) Rs. 2
(b) Rs. 5
(c) Rs. 10
(d) Rs. 100
(e) Rs. 1000

Answer & Explanation
Ans.1.(b)
Exp. The Rs. 5-note was the first paper currency issued by RBI in January 1938. It had the portrait of George VI. Within the same year, currency notes of Rs. 10; Rs. 100; Rs. 1,000; and Rs. 10,000 were issued.

Q2. What is the total numbers of central board of directors in RBI?
(a) 4
(b) 8
(c) 10
(d) 15
(e) 20

Answer & Explanation
Ans.2.(e)
Exp. The Reserve Bank’s affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India(RBI) Act 1934. Central Board of Directors consist of 20 members. It is constituted as one governor, four deputy governor and fifteen directors.

Q3. The RBI established under which act?
(a) RBI Act of 1921
(b) RBI Act of 1934
(c) RBI Act of 1949
(d) RBI Act of 1926
(e) None of these

Answer & Explanation
Ans.3.(b)

Q4. The Reserve Bank was nationalized in which year?
(a) 1934
(b) 1949
(c) 1955
(d) 1969
(e) None of these

Answer & Explanation
Ans.4.(b)

Q5. The Central Board of Directors of the Reserve Bank are appointed by?
(a) The Central Government
(b) RBI Governor
(c) President of India
(d) State Government
(e) None of these

Answer & Explanation
Ans.5.(a)

Q6. DICGC is one of the fully owned subsidiaries of RBI, full form of DICGC is?
(a) Deposit Initially and Credit Guarantee Corporation of India
(b) Deposit Insurance and Credit Guarantee Corporation of India
(c) Deposit Incorporation and Credit Guarantee Corporation of India
(d) Deposit Intern and Credit Guarantee Corporation of India
(e) None of these

Answer & Explanation
Ans.6.(b)

Q7. RBI performs the function of Financial supervision under the guidance of?
(a) Internal Debt Management Department
(b) Board for Financial Supervision (BFS)
(c) Monetary policy department
(d) Financial Stability Unit
(e) None of these

Answer & Explanation
Ans.7.(b)

Q8. RBI Manages the Foreign Exchange under the act?
(a) Foreign Exchange Management Act, 1949
(b) Foreign Exchange Management Act, 1988
(c) Foreign Exchange Management Act, 1992
(d) Foreign Exchange Management Act, 1999
(e) None of these

Answer & Explanation
Ans.8.(d)

Q9. Who regulates monetary policy in India?
(a) GoI
(b) RBI
(c) SEBI
(d) BSE
(e) None of these

Answer & Explanation
Ans.9.(b)

Q10. What is the main objective of monetary policy?
(a) Stable Stagflation
(b) Reduced Inflation
(c) Money Circulation
(d) Price stability
(e) None of these

Answer & Explanation
Ans.10.(d)

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