Within priority sector lending, what is the sub-target for agriculture for domestic scheduled commercial banks?
Correct answer B. 18 per cent of ANBC
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RBI and Monetary Policy MCQs
Page 2 of RBI and Monetary Policy multiple-choice questions with answers. Tap an option to check yourself.
Page 2 of 3
Priority Sector Lending Certificates, which banks can trade to meet their targets, were introduced in which year?
Correct answer D. 2016
In 2020-21, RBI changed its accounting year to which period?
Correct answer C. April to March
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The Board for Financial Supervision, which oversees banks and financial institutions on behalf of RBI, was set up in which year?
Correct answer D. 1994
Which Act, which replaced FERA, empowers RBI to manage foreign exchange in India?
Correct answer C. Foreign Exchange Management Act, 1999
What is the quorum for a meeting of the Monetary Policy Committee?
Correct answer A. Four members, including the Governor or Deputy Governor
In the Monetary Policy Committee, what happens if the vote is tied?
Correct answer A. The Governor has a casting vote
Under which section of the RBI Act is the Monetary Policy Committee constituted?
Correct answer C. Section 45ZB
How many members make up the Monetary Policy Committee?
Correct answer A. Six
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The Monetary Policy Committee was constituted under an amendment to the RBI Act made in which year?
Correct answer C. 2016
Which of these is a qualitative (selective) tool of monetary policy?
Correct answer C. Moral suasion
To inject liquidity into the banking system through open market operations, what does the RBI do?
Correct answer C. Buys government securities
On which date did the Reserve Bank of India begin operations?
Correct answer B. 1 April 1935
The Reserve Bank of India was set up on the recommendation of which commission?
Correct answer C. Hilton Young Commission
The Reserve Bank of India was nationalised with effect from which date?
Correct answer C. 1 January 1949
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Where was the Reserve Bank of India’s central office located when it was first set up?
Correct answer A. Calcutta
In which year was the RBI’s central office permanently shifted to Bombay?
Correct answer B. 1937
Who was the first Governor of the Reserve Bank of India?
Correct answer C. Sir Osborne Smith
Who was the first Indian to serve as Governor of the Reserve Bank of India?
Correct answer B. C. D. Deshmukh
Which animal and tree appear on the emblem of the Reserve Bank of India?
Correct answer C. Tiger and palm tree