RBI GRADE B PHASE 2 MAINS MCQ STUDY MATERIAL ON REVISED PATTERN PAPER FINANCE & MANAGEMENT TOPIC RBI & ITS FUNCTIONS
1. The Reserve Bank of India was established on _______. a) April 1, 1935 b) July 12, 1982 c) May 26, 2006 d) September 30, 2005 ANSWER: On April 1, 1935 the Reserve Bank of India, which is the central bank of this country, was established. It was originally started as a shareholders' bank with a share capital of Rs. 5 crore divided into shares of Rs. 100 each, fully paid-up. But since January, 1949 the Reserve Bank has been nationalised and it is now purely a concern of the State. The Government of India holds the entire share capital of the bank which has been acquired by payment of compensation to the shareholders. 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 ANSWER: a) State Bank of India The State Bank of India works as RBI's agent at places where it has no office of its own. 3. Which of the following is true a...