Magme School of Banking

1. Reserve Bank of India was established on _______.

a) April 1, 1935                   b) July 12, 1982                  c) May 26, 2006                 d) September 30, 2005

                                      

2. 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

3. Which of the following is true about the functions performed by RBI -

(i) It is the Bank of Issue

(ii) It acts as banker to the Government

(iii) It is the banker of other banks

(iv) It regulates the flow of credit

(a) Both (i) and (ii)                           (b) Both (iii) and (iv)                        (c) All the Above             

(d) None of the above

4. Which among the following is incorrect?

a) RBI is the Bank of Issue                            b) RBI acts as Banker to the Government

c) RBI is Banker's Bank                                   d) RBI does not regulate the flow of credit--

5. India is a member of the International Monetary Fund since _____.

a) 1934                  b) 1935                 c) 1947                  d) 1949

6. Which of the following is true about the restrictions on RBI?

(i) It is not to compete with the commercial banks.

(ii) It is not allowed to pay interest on its deposits.

(iii) It cannot engage directly or indirectly in trade.

(iv) It cannot acquire or advice loans against immovable property.

(v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.

(a) only (i),(ii),(iii), and (iv)                           (b) only (v)                                          (c) all the above

(d) none of the above

7. When did the Reserve Bank of India notify the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005?

a) April 5, 2006                   b) May 26, 2006                c) June 29, 2007                d) September 30, 2005

8. When did the draft guidelines for building grievance redressal mechanism within NBFCs (Non-Banking Financial Companies) publish?

a) April 5, 2006                   b) May 26, 2006                c) June 29, 2007                d) September 30, 2005

9. When did the Centre acquire the Reserve Bank of India's entire 59.73% equity stake in the State Bank of India (SBI) at over Rs. 35,531 crore in New Delhi?

a) April 5, 2006                                   b) May 26, 2006                                c) June 29, 2007               

d) September 30, 2005

10. According to which guidelines did the Government pick up the entire SBI shares held by the RBI?

a) National Stock Exchange of India                         b) Securities Commission

c) Financial Regulations                                                 d) Securities and Exchange Board of India (SEBI)

ANSWER KEYS

1.A	2.A	3.C	4.D	5.C
6.C	7.A	8.B	9.C	10.D