36 + Mcqs in Rbi Page 1 McqOptions

1.	In April 2020, RBI cancelled the license of which of the following Urban Co-operative Banks and set up the course for liquidation?
A.	Indian Mercantile Co-operative Bank Ltd.
B.	Citizen Credit Co-operative Bank Ltd.
C.	Janalaxmi Co-operative Bank Ltd.
D.	Mapusa Urban Co-operative Bank
E.	Shamrao Vithal Co-operative Bank Ltd.
Answer» E. Shamrao Vithal Co-operative Bank Ltd.

Discussion

2.	In December 2019, RBI has introduced a new semi-closed prepaid payment instrument (PPI) which can be used for the transaction of goods and services up to a limit of how many rupees?
A.	6,000
B.	8,000
C.	10,000
D.	12,000
E.	15,000
Answer» D. 12,000

Discussion

3.	According to RBI guidelines, the term “Bulk Deposit” is used for single Rupee Term Deposit of ____
A.	Rs. 25 lac and Above
B.	Rs. 75 lac and Above
C.	Rs. 1 crore and Above
D.	Rs. 50 lac and Above
Answer» D. Rs. 50 lac and Above

Discussion

4.	In which year did India get its Central Bank?
A.	1937
B.	1935
C.	1933
D.	1931
Answer» C. 1933

Discussion

5.	In January 2020, to which of the following has RBI granted “in-principle” approval for the transition into a Small Finance Bank (SFB)?
A.	Madhavpura Mercantile Co-operative Bank Limited
B.	Shivalik Mercantile Co-operative Bank Limited
C.	Rajkot Nagrik Sahakari Bank Ltd.
D.	Amanath Co-operative Bank Ltd.
E.	Bharati Sahakari Bank Limited
Answer» C. Rajkot Nagrik Sahakari Bank Ltd.

Discussion

6.	As per the guidelines issued by the RBI in September 2017, all Peer-to-Peer lending (P2P) platforms will be treated as ________.
A.	Payment Banks
B.	Small Finance Banks
C.	NBFCs
D.	Regional Rural Banks
Answer» D. Regional Rural Banks

Discussion

7.	In January 2020, RBI said select banks in India can offer forex rates to Indian clients beyond the inter-bank market hours. These banks currently run from ________.
A.	8 am to 4 pm
B.	8 am to 5 pm
C.	9 am to 5 pm
D.	9 am to 6 pm
E.	10 am to 6 pm
Answer» D. 9 am to 6 pm

Discussion

8.	In September 2020, the Reserve Bank of India decided to introduce the 'positive pay system' from 1 January 2021 for cheques, under which re-confirmation of key details may be needed for payments beyond ______.
A.	Rs. 50,000
B.	Rs. 75,000
C.	Rs. 55,000
D.	Rs. 60,000
Answer» B. Rs. 75,000

Discussion

9.	In December 2019, the RBI will simultaneously purchase and sell government securities worth how many crores under a special Open Market Operation (OMO)?
A.	6,000
B.	8,000
C.	10,000
D.	12,000
E.	14,000
Answer» D. 12,000

Discussion

10.	Examine the following statements:A. Repo rate is the rate at which the Reserve Bank of India borrows money from commercial banks within India.B. Reverse repo rate is the rate at which the RBI lends money to commercial banks in the event of any shortfall of funds.C. The RBI increased the repo-rate and reverse repo rate by 25 basis points to 6.5% and 6.25%, respectively on August 1, 2018Choose the correct answer:
A.	A and B only
B.	B and C only
C.	A, B and C
D.	C only
Answer» E.

Discussion

11.	In October 2019, RBI gave its approval to the Government of ______ to create a new bank by amalgamating the District Co-operative banks (DCBs) with its State Co-operative Bank.
A.	Maharashtra
B.	Kerala
C.	Gujarat
D.	West Bengal
Answer» C. Gujarat

Discussion

12.	Financial inclusion as per RBI means
A.	greater consumer protection for newly included customers.
B.	an easily accessed and speedy grievance redressal process.
C.	expanded efforts on financial literacy.
D.	All of the above
Answer» E.

Discussion

13.	Consider the following statements:The Reserve Bank of India's recent directives relating to 'Storage of Payment System Data', popularly known as data diktat, command the payment system providers that1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India.2. they shall ensure that the systems are owned and operated by public sector enterprises3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar yearWhich of the statements given above is/are correct?
A.	1 only
B.	1 and 2 only
C.	3 only
D.	1, 2 and 3
Answer» B. 1 and 2 only

Discussion

14.	In May 2018, RBI put Dena Bank under 'Prompt Corrective Action' (PCA) which focuses on the following aspects:(A) Cannot sanction fresh loans(B) Barred from recruiting more staff(C) Cannot disburse loans already sanctioned(D) Dena Bank is first lender to face curbs under PCA
A.	(A), (C), (D) only
B.	(A), (B) only
C.	(B), (C), (D) only
D.	(A), (B), (C) only
Answer» C. (B), (C), (D) only

Discussion

15.	In February 2020, RBI has increased the real GDP growth for the fiscal year 2020-21 to how much per cent?
A.	5.5
B.	5.8
C.	6
D.	6.2
E.	6.4
Answer» D. 6.2

Discussion

16.	Of these, who has never been the Deputy Governor of RBI?
A.	VK Sharma
B.	V Liladhar
C.	MK Jain
D.	BP Kanungu
Answer» B. V Liladhar

Discussion

17.	_______ is the central bank of India that controls all the banks in the country.
A.	SBI
B.	Union Bank
C.	CBI
D.	RBI
Answer» E.

Discussion

18.	After his stint as the Reserve Bank Governor, which university (in the USA) did Raghuram Rajan join as professor of Finance?
A.	Harvard Business School, Boston
B.	Berkeley Haas, California
C.	Booth School, Chicago
D.	Columbia Business School, New York
Answer» D. Columbia Business School, New York

Discussion

19.	In the third special open market operation (OMO), the RBI bought how many crores of three long-term securities and sold the same amount of three short-term bonds?
A.	₹7,000
B.	₹8,000
C.	₹9,000
D.	₹10,000
E.	₹11,000
Answer» E. ₹11,000

Discussion

20.	In which year was The Reserve Bank of India was established?
A.	1935
B.	1947
C.	1950
D.	1952
Answer» B. 1947

Discussion

21.	In India, the custodian of foreign exchange reserves of the country is:
A.	Union Cabinet
B.	Reserve Bank of India
C.	State Bank of India
D.	Union Finance Ministry
Answer» C. State Bank of India

Discussion

22.	At present, who is the Governor of the Reserve Bank of India?
A.	Urjit Patel
B.	Raghuram Rajan
C.	Shanta Kumar
D.	Gupte
E.	None of the above/More than one of the above
Answer» F.

Discussion

23.	In October 2017, RBI fixed the cash loading limit per month to ________ for Prepaid Payment Instruments.
A.	Rs. 10,000
B.	Rs. 50,000
C.	Rs. 75,000
D.	Rs. 1,00,000
Answer» B. Rs. 50,000

Discussion

24.	In which year was the Reserve Bank of India established under the Reserve Bank Act?
A.	1960
B.	1947
C.	1935
D.	1957
Answer» D. 1957

Discussion

25.	In November 2017, RBI simpliﬁed ‘FEMA’ by putting all amendments under one notiﬁcation. What does ‘E’ stand for in ‘FEMA’
A.	Enterprise
B.	Exchange
C.	Evaluate
D.	Estate
Answer» C. Evaluate

Discussion

26.	As per its preamble, RBI CANNOT have more than ______ deputy governors?
A.	two
B.	one
C.	four
D.	three
Answer» D. three

Discussion

27.	In December 2019, the Reserve Bank of India (RBI) has waived transfer charges of which of the following for savings account holders?
A.	NEFT
B.	RTGS
C.	PhonePe
D.	Both 1 and 2
E.	All are correct
Answer» E. All are correct

Discussion

28.	In January 2019, the Reserve Bank of India initiated two surveys namely, Industrial Outlook Survey (IOS) and _______.
A.	Services Outlook Survey (SOS)
B.	Services and Infrastructure Outlook Survey (SIOS)
C.	Services Trade Survey (STS)
D.	Services and Trade Outlook Survey (STOS)
Answer» C. Services Trade Survey (STS)

Discussion

29.	In which year was the RBI nationalised?
A.	1971
B.	1956
C.	1949
D.	1935
Answer» D. 1935

Discussion

30.	Assertion (A): The Reserve Bank of India is entrusted with the management of the public debt and the issue of new loans and treasury bills on behalf of the central and state Governments.Reasoning (R): The Governor and the Deputy Governors of the Reserve Bank of India are appointed by the Central Government.
A.	(A) is correct but (R) is not correct.
B.	(A) and (R) both are correct but (R) is not the right explanation of (A).
C.	(A) and (R) both are correct and (R) is the right explanation of (A).
D.	(A) and (R) both are not correct.
Answer» C. (A) and (R) both are correct and (R) is the right explanation of (A).

Discussion

31.	______ was established in 1935 on the recommendation of Hilton-Young Commission.
A.	State Bank of India
B.	Central Bank of India
C.	Bank of Baroda
D.	Reserve Bank of India
Answer» E.

Discussion

32.	In September 2017, RBI has capped bank investments in private equity fund at ________ percent of paid-up capital.
A.	5
B.	10
C.	15
D.	18
Answer» C. 15

Discussion

33.	A Government Bank Note Press in located in which of the following places in Madhya Pradesh?
A.	Jhabhua
B.	Jabalpur
C.	Dewas
D.	Rewa
Answer» D. Rewa

Discussion

34.	In which year was the Lead Bank Scheme introduced by the Reserve Bank of India?
A.	1964
B.	1969
C.	1973
D.	1975
Answer» C. 1973

Discussion

35.	______ assumed charge as the Governor of the Reserve Bank of India in September 2016.
A.	Dr. Rakesh Panagariya
B.	Dr. Rakesh Mohan
C.	Dr. Raghuram Rajan
D.	Dr. Urjit R. Patel
Answer» E.

Discussion

36.	In January 2020, the RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use V-CIP. What does 'V' stand for in V-CIP?
A.	Video
B.	Virtual
C.	Voice
D.	Vacancy
E.	Vocal
Answer» B. Virtual

Discussion

Explore topic-wise MCQs in Banking And Financial Awareness.

In April 2020, RBI cancelled the license of which of the following Urban Co-operative Banks and set up the course for liquidation?

In December 2019, RBI has introduced a new semi-closed prepaid payment instrument (PPI) which can be used for the transaction of goods and services up to a limit of how many rupees?

According to RBI guidelines, the term “Bulk Deposit” is used for single Rupee Term Deposit of ____

In which year did India get its Central Bank?

In January 2020, to which of the following has RBI granted “in-principle” approval for the transition into a Small Finance Bank (SFB)?

As per the guidelines issued by the RBI in September 2017, all Peer-to-Peer lending (P2P) platforms will be treated as ________.

In January 2020, RBI said select banks in India can offer forex rates to Indian clients beyond the inter-bank market hours. These banks currently run from ________.

In September 2020, the Reserve Bank of India decided to introduce the 'positive pay system' from 1 January 2021 for cheques, under which re-confirmation of key details may be needed for payments beyond ______.

In December 2019, the RBI will simultaneously purchase and sell government securities worth how many crores under a special Open Market Operation (OMO)?

In October 2019, RBI gave its approval to the Government of ______ to create a new bank by amalgamating the District Co-operative banks (DCBs) with its State Co-operative Bank.

Financial inclusion as per RBI means

In May 2018, RBI put Dena Bank under 'Prompt Corrective Action' (PCA) which focuses on the following aspects:(A) Cannot sanction fresh loans(B) Barred from recruiting more staff(C) Cannot disburse loans already sanctioned(D) Dena Bank is first lender to face curbs under PCA

In February 2020, RBI has increased the real GDP growth for the fiscal year 2020-21 to how much per cent?

Of these, who has never been the Deputy Governor of RBI?

_______ is the central bank of India that controls all the banks in the country.

After his stint as the Reserve Bank Governor, which university (in the USA) did Raghuram Rajan join as professor of Finance?

In the third special open market operation (OMO), the RBI bought how many crores of three long-term securities and sold the same amount of three short-term bonds?

In which year was The Reserve Bank of India was established?

In India, the custodian of foreign exchange reserves of the country is:

At present, who is the Governor of the Reserve Bank of India?

In October 2017, RBI fixed the cash loading limit per month to ________ for Prepaid Payment Instruments.

In which year was the Reserve Bank of India established under the Reserve Bank Act?

In November 2017, RBI simpliﬁed ‘FEMA’ by putting all amendments under one notiﬁcation. What does ‘E’ stand for in ‘FEMA’

As per its preamble, RBI CANNOT have more than ______ deputy governors?

In December 2019, the Reserve Bank of India (RBI) has waived transfer charges of which of the following for savings account holders?

In January 2019, the Reserve Bank of India initiated two surveys namely, Industrial Outlook Survey (IOS) and _______.

In which year was the RBI nationalised?

______ was established in 1935 on the recommendation of Hilton-Young Commission.

In September 2017, RBI has capped bank investments in private equity fund at ________ percent of paid-up capital.

A Government Bank Note Press in located in which of the following places in Madhya Pradesh?

In which year was the Lead Bank Scheme introduced by the Reserve Bank of India?

______ assumed charge as the Governor of the Reserve Bank of India in September 2016.

In January 2020, the RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use V-CIP. What does 'V' stand for in V-CIP?