Top 350+ Solved Banking and Finance MCQ Questions Answer
Q. According to which section of the RBI Act of 1934, RBI is liable to pay the value of banknote to itsholder?
a. Section 22
b. Section 24
c. Section 26
d. Section 28
Q. Which of the following factors is/ are considered by the RBI to determine the number of notes to beissued by it?
a. GDP Growth
b. Inflation
c. Replacement of soiled banknotes
d. All of these
Q. When did the Government appoint for transfer of stake?
a. 29 June
b. 26 May
c. 5 April
d. 1 April
Q. India is a member of the International Monetary Fund since _____.
a. 1934
b. 1935
c. 1947
d. 1949
Q. Who works as RBI's agent at places where it has no office of its own?
a. State Bank of India
b. Ministry of Finance
c. Government of India
d. International Monetary Fund
Q. Who mints the coins in India?
a. Ministry of Finance
b. Reserve Bank of India
c. Prime Minister's Office
d. Commerce and Industry Ministry
Q. RBI known as lender of last resort because:
a. It has to meet the credit need of citizens to whom no one else is willing to lend
b. Banks lend to go to RBI as a last resort
c. It comes to help banks in times of crisis
d. All of the above
Q. What does Deficit financing mean?
a. Government of India borrows from World Bank
b. Government of India borrows from IMF
c. Government of India borrows from SBI
d. Government of India borrows from RBI
Q. Which is incorrect with regard to powers of RBI:
a. Holds cash reserve banks
b. Controls banking system through licensing
c. Supervises Banking system through inspection
d. None of the above
Q. Which of the following term is not used in the Formation of Monetary Policy?
a. Cash Reserve Ratio
b. Repo Rate
c. Bank Rate
d. Blue chip
Q. Which of the following sentence is not correct?
a. RBI was nationalized on January 1, 1935.
b. RBI’s head quarter is in Delhi
c. RBI is the custodian of the foreign currency in India
d. all of the mentioned
Q. M Narasimham headed
a. The working group constituted by the Government of India in July 1975 for the establishment of Regional Rural Banks
b. The committee on the financial system 1991
c. The committee on Banking Sector Reforms 1997
d. All of the above
Q. Narasimham Committee was appointed on…………
a. Agricultural reforms
b. Industry reforms
c. Insurance reforms
d. Banking reforms