Economics MONEY BANKING AND FINANCIAL INSTITUTIONS Test 8 Welcome to your Economics MONEY BANKING AND FINANCIAL INSTITUTIONS Test 8 Name Email 1.Which section of the RBI Act empowers the Central Government to supersede the RBI board and issue directions considered to be ‘necessary in public interest’ to the RBI, after consulting the Governor of the bank? (a) Section 5 (b) Section 7 (c) Section 3 (d) Section 1 None 2. Reserve Bank of India, which acts as a banker to the Central Government, was established on: (a) 1st April 1935 (b) 1st April 1948 (c) 1st April 1950 (d) 1st April 1945 None 3.Who among the following formulates the monetary policy in India ? (a) Reserve Bank of India (b) NITI Aayog (c) Finance Commission of India (d) The Ministry of Statistics and Programme Implementation None 4. Which of the following banks prints the currency notes in India? (a) NABARD (b) ICICI Bank (c) State Bank of India (d) Reserve Bank of India None 5.Which of the following is the apex banking institution of India that regulates the monetary policy? (a) Reserve Bank of India (b) Axis Bank (c) State Bank of India (d) Bank of India None 6.Which among the following financial institutions was nationalised in 1949? (a) RBI (b) SIDBI (c) PNB (d) IFCI None 7. Which of the following Acts was amended to provide a statutory basis for the implementation of the flexible inflation targeting (FIT) framework ? (a) Deposit Insurance and Credit Guarantee Corporation Act, 1961 (b) Banking Regulation Act, 1949 (c) Reserve Bank of India (RBI) Act, 1934 (d) The Industrial Finance Corporation of India Act, 1948 None 8.Merchant discount rate refers to _______. (a) only taxes that a digital payment entails (b) the total discount a merchant offers on online transactions (c) the rate charged to a merchant for payment processing services on debit and credit card transactions. (d) the total discount a bank offers to the merchant for promoting online transactions ions. None 9. If the inflation in an economy is rising steadily, the Central Bank might ______. (a) keep the repo rate unchanged (b) decrease the repo rate (c) decrease the reverse repo rate (d) increase the repo rate None 10.Which of the following is NOT a nationalised bank? (a) United Bank of India (b) State Bank of India (c) Punjab National Bank (d) Punjab and Sind Bank None 11.Which of these Institutions fixes the repo rate and reverse repo rate in India ? (a) Comptroller and Auditor General of India (b) Ministry of Finance (c) State Bank of India (d) Reserve Bank of India None 12.In which year was the Reserve Bank of India established? (a) 1925 (b) 1935 (c) 1939 (d) 1945 None 13.Which of the following institutions does NOT regulate capital markets in India ? (a) RBI (b) SEBI (c) Ministry of Finance (d) IRDA None 14.What is the minimum amount which can be remitted through Real Time Gross Settlement (RTGS) ? (a) Rs 2,00,000 (b) Rs 1,00,000 (c) Rs 5,00,000 (d) Rs 3,00,000 None 15.What is the full form of NPCI which is an umbrella organisation for all retail payments systems in India ? (a) National Payments Corporation of India (b) Non-cash Payments Corporation of India (c) Non-cash Payments Cooperative Inc. (d) Net Payments Company Inc. None 16.Which of the following bodies is primarily concerned with maintaining the integrity of the international financial system ? (a) IMF (b) AIIB (c) FATF (d) ADB None 17. Which central agency regulates and monitors the housing sector in India ? (a) RERA (b) RBI (c) LIC (d)SEBI None 18.Which central agency manages the public debt of the central and state government? (a) FICCI (b) IRDA (c) SEBI (d) RBI None 19.Under Banking Regulation Act, 1934, The Reserve Bank was established in 1935 with the capital of Rs. ______ . (a) 5 crore (b) 4 crore (c) 3 crore (d) 2 crore None 20.Which central institution in India monitors and regulates agricultural credit ? (a) SEBI (b) NABARD (c) IRDA (d) RBI None 21.Which of the following is not considered as a valid currency ? (a) Gold (b) Demand Draft (c) Currency (d) Coin None Time's up
