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RBI MCQs | Reserve Bank of India Multiple Choice Questions(MCQs) & Answers

Free download in PDF Reserve Bank of India Multiple Choice Questions & Answers for competitive exams. These RBI Objective Questions with Answers are important for competitive exams like UPSC, SSC, Railway, UGC NET, GATE, IBPS Specialist Recruitment Test. These short solved questions or quizzes are provided by Gkseries.
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(1) On which commission’s recommendations; Reserve Bank of India was established?
[A] Chamberlain Commission
[B] Hilton Young Commission
[C] Keynes Commission
[D] None of the above
Answer: Hilton Young Commission
(2) 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
Answer: Ministry of Finance
(3) Who was the first governor of Reserve Bank of India from Indian origin?
[A] Osborne Smith
[B] C. Rajagopalachari
[C] L. K. Jha
[D] C.D. Deshmukh
Answer: C.D. Deshmukh
(4) What is CRR?
[A] Cash Reserve Ratio
[B] Current Ratio Rate
[C] Review Report
[D] Credit Rating Record
Answer: Cash Reserve Ratio
(5) Where is the Head Quarter of Reserve Bank of India?
[A] Mumbai
[B] Delhi
[C] Kolkotta
[D] Ahmedabad
Answer: Mumbai
(6) When was the second phase of nationalisation done?
[A] 9th July 1969
[B] 10th July 1968
[C] 16th August 1985
[D] 15th April, 1980
Answer: 15th April, 1980
(7) When was Indian Banking Act come into force?
[A] 1948
[B] 1949
[C] 1950
[D] 1951
Answer: 1949
(8) When was OMBUDS MEN SCHEME first introduced?
[A] November 2006
[B] October 1981
[C] June 1995
[D] January 1998
Answer: June 1995
(9) The period for Call Money is ________
[A] 10 to 15days
[B] 1 to 14 Days
[C] 15 to 30 Days
[D] One Month
Answer: 1 to 14 Days
(10) ATMs that are owned and managed by non-banking entities are known as -
[A] Red Label ATMs
[B] White Label ATMs
[C] Green Label ATMs
[D] Blue Label ATMs
Answer: White Label ATMs
(11) The tax levied by Central Government and collected by State Governmentis ________
[A] Stamp Duty
[B] Excise Duty
[C] Income Tax
[D] Gift Tax
Answer: Stamp Duty
(12) The share of State Govt in the capital of Regional Rural Bank is –
[A] 50%
[B] 35%
[C] 25%
[D] 15%
Answer: 15%
(13) The largest revenue in India is obtained from __________
[A] Railways
[B] Excise Duty
[C] Sales Tax
[D] Direct Taxes
Answer: Excise Duty
(14) The tax levied by Local Governments i.e. Municipal Corporations and municipalities is ____________
[A] Income Tax
[B] Wealth Tax
[C] House Tax
[D] Gift Tax
Answer: House Tax
(15) In which denomination were India's first bimetallic coins issued in the year 2009?
[A] Rs. 100
[B] Rs. 5
[C] Rs. 10
[D] Re. 1
Answer: Rs. 10
(16) What is the major share in revenue of State Governments?
[A] Stamp Duty
[B] Excise Duty
[C] Sales Tax
[D] Income Tax
Answer: Sales Tax
(17) The tax collected by the State Governments and given to local bodies is __________
[A] Income Tax
[B] Wealth Tax
[C] House Tax
[D] Professional Tax
Answer: Pseudoviruses
(18) Who regulates the money circulation in India?
[A] State Bank of India
[B] Reserve Bank of India
[C] NABARD
[D] Commercial Banks
Answer: Reserve Bank of India
(19) Which of the following is not an organized sector in India?
[A] Nationalised Banks
[B] Regional Rural Banks
[C] Cooperative Banks
[D] Chits and Money lenders
Answer: Chits and Money lenders
(20) Who introduced the Banking Ombudsmen Scheme?
[A] ARBI
[B] SBI
[C] Ministry of Finance
[D] NABARD
Answer: ARBI
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