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Reserve Bank
of India
fter
independence to India,
RBI was nationalized on 1st January,
1949.
★ Banking Regulation Act 1949 empowered
RBI and gave full-fledged functions of a
central bank and as a banking and financial regulatory authority of India. By this
RBI has authority to license and control
banks, audit them, inspect, regulate and
monitor.
A
Ñ-Ø√-úø’ £j«-ü¿®√-¶«-ü˛
Indian banking system has given a shape and structure
by the formation of central bank in India, known as
Reserve Bank of India (RBI). It was established in 1935
under RBI Act 1934 with a capital of 5 crores, divided into
100 shares of 5 lakhs each and was owned by
government with limited functions.
RRBs are supervised by..?
RBI functions with certain objectives such
as....
★ To maintain monetary stability.
★ To maintain financial stability and ensure
sound financial institutions.
★ To maintain stable payment systems.
★ To ensure credit allocation by the financial
system.
★ To regulate the overall volume of money
and credit in the economy.
★ To promote the development of financial
markets.
★ To educate and convert the general public
to use organized financial and banking
sector.
Some Important Functions of RBI:
★ Monitoring monetary policy by taking
operate decision with the help of some
direct and indirect tools like Cash Reserve
Ratio (CRR), Statutory Liquidity Ratio
(SLR), and Refinance facilities. These are
direct tools.
★ A few indirect tools: RBI also uses some
indirect tools like Liquidity Adjustment
Facility (LAF), Repo / Reverse Repo Rate,
Open Market Operations (OMO), Marginal
Standing Facility (MSF), Bank Rate, and
Market Stabilisation Scheme (MSS).
★ RBI prints currency notes with the help of its
subsidiaries, 'The Security Printing and
Minting Corporation of India Limited (SPMCIL)', 'The Bharatiya Reserve Bank Note
Mudran Pvt. Ltd. (BRBNMPL)'.
★ On behalf of Government of India RBI
mints rupee coin with the help subsidiaries,
'The Security Printing and Minting
Corporation of India Limited (SPMCIL)'
which are known as mints which comes
under Coinage Act, 1906.
★ RBI acts as Banker and Debt Manager to
Government. It maintain accounts and
banking transactions of central government, it receive funds and make payments
and transfer funds on behalf of government
and also known as Banker to Banks.
★ RBI is the Regulator of the Indian Banking
Services and System, it regulates through
licensing banks, formulation of certain rules
etc.,. It also known as Manager of foreign
exchange and foreign reserves in India by
appointing authorized dealers for exchanging foreign currency. Development of foreign currency reserves like Foreign
Currency Assets (FCA), Special Drawing
Rights (SDRs) and gold etc.,. The act that
helps RBI to manage foreign exchange
transactions
is
Foreign
Exchange
Management Act (FEMA) 1999.
★ RBI is Regulator and Supervisor of the
Payment and Settlement Systems in India.
All the clearing and settlements activities
are done through different means and
established different schemes and services like National Payments Corporation
of India (NPCI), The Real Time Gross
Settlement (RTGS), Electronic Funds
Transfer (EFT), National Electronic
Clearing Service (NECS), Electronic
Clearing
Service
(ECS),
Cheque
Truncation System (CTS) etc.
1
Banking Knowledge
1. How many deputy governors does RBI have?
a) One b) Two c) Three d) Four e) None
2. Who appoints the deputy governors of RBI?
a) RBI Governor
b) Union Government of India
c) President of India
d) Board of directors of RBI
e) None
3. RBI is directly controlled by .......
a) Public
b) All banks in India
c) Central board of directors of RBI
d) Union Government of India
e) None of these
4. How many members will be there in RBI
central board of directors?
a) 15
b) 5
c) 21
d) 25
e) 272
5. RBI is formed under which act .......
a) RBI act 1935
b) RBI act 1934
c) Banking regulation act 1949
d) Indian Penal Code (IPC) 1947
e) None of these
6. Institutions, that are appearing in the second
schedule of the RBI act 1934 are called
as .......
a) Scheduled banks
b) Only commercial banks
c) Non Banking Financial Institutions (NBFC)
d) Both a and c
e) None of these
7. ....... acts as fundamentals to the nation's
financial system.
a) RBI
b) Central Government
c) Banks
d) Central Bank
e) None of these
8. Regional Rural Banks are supervised by .......
a) NABARD
b) RBI
c) State Government
d) Central Government
e) None of these
9. Identify the RBI Owned Subsidiaries .......
a) National Housing Bank (NHB).
b) Bharatiya Reserve Bank Note Mudran
Pvt Ltd (BRBNMPL).
c) Deposit Insurance and Credit Guarantee
Corporation (DICGC).
d) National Bank for Agriculture and Rural
Development (NABARD).
e) All of these
10. RBI's quasi judicial authority for solving
disputes between banks and their customer
is known as .......
a) Banking codes and standards board of
India.
b)Customer services and dispute redressal
cell.
c) Banking ombudsman
d) Judgments on disputes and services
authority
e) None of these
11. FEMA 1999 stands for .......
a) Financial Exchange Management Act 1999
b) Foreign Exchange Management Act 1999
c) Foreign Economy Management Act 1999
22. RBI's facility of repurchase of securities is
d) Foreign External Management Act 1999
known as .......
e) None of these
a) REPO Rate
b) Reverse REPO rate
12. Primary activities of RBI are .......
c) Treasury bills
d) Security rate
a) Managing foreign exchanges
b) Issuing currency notes
e) None of these
c) Maintaining financial stability
23. For efficient and effective payment and settlement system RBI must undertake followd) Regulating banking system in India
ing activity .......
e) All of these
a) Maintain of clearing houses at
13. Maintaining cash balance with
various centers.
RBI as a share of demand and
time liabilities of bank is known
b) Creation of currency holding
as .......
chests in different areas.
a) CRR
b) SLR
c) LAF
c) Creation of the mechanism for
d) MSF
e) None of these
electronic fund transfer.
14. Identify RBI Regulatory role from
d) All the above e) None of these
following.......
24. RBI's regulatory and supervisory
S. Rudranand
a) Licensing
policy initiatives are aimed at .......
b) Monitoring governance
a) Protection of the depositors' interests
c) Regulating interest rates in specific areas
b) Orderly development of banking services
d) Prescribing capital requirements
c) Conduct of banking operations
e) All the above
d) Liquidity and solvency of banks
15. What are the principles that guide RBI in
e) All the above
investing its foreign assets?
25. Name the publicity campaigns by RBI on
a) Safety and liquidity
security features of rupee currency note are
b) Safety and returns
display on poster at bank branches?
c) Liquidity and returns
a) Know Your Bank note
d) Safety, liquidity and returns
e) None
b) Know Your Money
16. Larger value settlement of inter-bank transc) Know Your Currency (KYC)
actions from financial markets is done
d) Currency Note Education
e) None
through .......
26. External commercial borrowings are such
a) Real time gross settlement
as .......
b) Internal payment and settlement
a) Commercial-bank loan
c) RBI payment system
b) Buyers' credit
d) National Electronic Funds Transfer
c) Securitized instruments
e) All the above
d) Suppliers' credit
e) All the above
17. National Bank for Agriculture and Rural
27. Who all cannot open account with RBI?
Development is established for .......
a) Schedule banks b) Non-schedule banks
a) Promoting mutual funds in the country
c) General public
b) Promoting and regulating housing
d) Union Government of India
finance in rural areas
e) Both b and c
c) Promoting rural and agricultural credit
d) Regulating agriculture in rural areas
Key
e) None of these
11-b 16-a 21-b 26-e
6-a
1-d
18. Cash reserves consists of .......
12-e 17-c 22-a 27-c.
7-c
2-b
a) Cash
13-a 18-d 23-d
8-a
3-c
b) Money market instruments
14-e 19-e 24-e
9-e
4-c
c) Treasury bills
10-c 15-d 20-a 25-a
5-b
d) All the above
e) Only a and c
19. Main instruments available to Central
Banks to control prime rates of leading
banks .......
a) Repo rates
b) Reverse repo rate
c) Cash Reserve Ratio
d) Statutory Liquidity Ratio
e) All the above
20. Acceptance of deposits from the public for
the purpose of lending and investment is
the main activity of .......
a) Commercial banks
b) Financial institutions
★
c) Primary dealers
★
d) Non banking financial companies
e) All the above
21. Banks which are controlled by NABARD
and State Government are?
a) Urban cooperative banks
★
b) Rural cooperative banks
c) Commercial banks
d) Non-banking financial companies
www.jnafau.ac.in
e) None of these
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