666 MCQs on RBI Act, 1934
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Questions and Answers

The Sections 2 to 19, 47, 50 to 52, 55 to 58 and 61 of the RBI Act, 1934 were brought into force on _______________ and other Sections of the Act on April 01, 1935.

  • April 1, 1934
  • March 31, 1935
  • January 1, 1935 (correct)
  • January 1, 1934
  • In terms of Section 2 (cii) of the RBI Act, 1934, the “inflation target” means the inflation target determined in accordance with the sub-section (l) of Section _________.

  • Section 45ZA (correct)
  • Section 45ZB
  • Section 45ZC
  • None of the above
  • In terms of Section 2 (i) of the RBI Act, 1934, the “Co-operative bank”, “co-operative credit society”, “director”, “primary agricultural credit society, “primary co-operative bank” and “primary credit society” shall have the meanings respectively assigned to them in Part V of the _______________________.

  • RBI Act, 1934
  • Banking Regulation Act, 1949
  • Indian Cooperative Societies Act, 1906 (correct)
  • None of the Above
  • In terms of Section 2 (cccci) of the RBI Act, 1934, the “Policy Rate” means the rate for repo-transactions under sub-section (12AB) of Section _________.

    <p>Section 17</p> Signup and view all the answers

    Which one of the followings is referred as “National Bank” in terms of Section 2 (ccc) of the RBI Act, 1934?

    <p>NABARD</p> Signup and view all the answers

    In terms of Section 1 of the RBI Act, 1934, the RBI Act is applicable to the whole of India except the State of Jammu & Kashmir. Whether this statement is TRUE or FALSE?

    <p>False</p> Signup and view all the answers

    Which one of the followings is referred as “International Fund” in terms of Section 2 (cc) of the RBI Act, 1934?

    <p>IMF</p> Signup and view all the answers

    Match the following related to Section (2) of the Chapter I:

    <p>Scheduled bank = RBI Sponsor Bank = RRB Act, 1976 Co-operative bank = Second Schedule Bank = BR Act, 1949</p> Signup and view all the answers

    In terms of Section 2 (d) of the RBI Act, 1934, the “Rupee Coin” means the rupees which are legal tender in India under the provisions of the _________.

    <p>Indian Coinage Act, 1906</p> Signup and view all the answers

    In terms of Section _______ of the RBI Act, 1934, the “Bank for International Settlements (BIS)” means the body corporate established with the said name under the law of Switzerland in pursuance of an agreement dated January 20, 1930 signed at the Hague.

    <p>Section 2</p> Signup and view all the answers

    In terms of Section 2 of the RBI Act, 1934, the _______ means the body corporate established with the said name under the law of Switzerland in pursuance of an agreement dated January 20, 1930 signed at the Hague.

    <p>Bank for International Settlements (BIS)</p> Signup and view all the answers

    In terms of Section 2 (cci) of the RBI Act, 1934, the “Monetary Policy Committee” means the Committee constituted under sub-section (l) of Section _________.

    <p>Section 45ZB</p> Signup and view all the answers

    In terms of Section 2 (cccc) of the RBI Act, 1934, the “National Housing Bank” means a National Housing Bank established under the _______________________.

    <p>National Housing Bank Act, 1987</p> Signup and view all the answers

    In terms of Section 2 of the RBI Act, 1934, the “Bank for International Settlements (BIS)” means the body corporate established with the said name under the law of _________________ in pursuance of an agreement dated January 20, 1930 signed at the Hague.

    <p>Switzerland</p> Signup and view all the answers

    In terms of Section 2 (eb) of the RBI Act, 1934, the “Small Industries Bank” means a Small Industries Development Bank of India established under the _______________________.

    <p>SIDBI Act, 1989</p> Signup and view all the answers

    In terms of Section 2 of the RBI Act, 1934, the “Bank for International Settlements (BIS)” means the body corporate established with the said name under the law of Switzerland in pursuance of an agreement dated January 20, 1930 signed at ____________.

    <p>The Hague</p> Signup and view all the answers

    In terms of Section 2 (h) of the RBI Act, 1934, the “agricultural operations”, “central co-operative bank”, “co-operative society”, “crops”, “marketing of crops”, “pisciculture”, “regional rural bank” and “State co-operative bank” shall have the meanings respectively assigned to them in the the _______________________.

    <p>NABARD Act, 1981</p> Signup and view all the answers

    In terms of Section _______ of the RBI Act, 1934, the “inflation” means the year wise change in monthly Consumer Price Index expressed in terms of percentage.

    <p>Section 2</p> Signup and view all the answers

    In terms of Section 2 (fi) of the RBI Act, 1934, the “State Finance Corporation” means any State Financial Corporation established under the _______________.

    <p>State Financial Corporations Act, 1951</p> Signup and view all the answers

    In terms of Section 2 (ci) of the RBI Act, 1934, the _______ means the year wise change in monthly Consumer Price Index expressed in terms of percentage.

    <p>inflation</p> Signup and view all the answers

    In terms of Section 2 (ea) of the RBI Act, 1934, the “Sponsor Bank” means a Sponsor Bank as defined in the _______________________.

    <p>Regional Rural Banks Act, 1976</p> Signup and view all the answers

    In terms of Section 2 (eb) of the RBI Act, 1934, the “State Bank” means a State Bank of India constituted under the _______________________.

    <p>SBI Act, 1955</p> Signup and view all the answers

    Which of the following places the RBI Act, 1934 is applicable in terms of Section 1 of the RBI Act, 1934?

    <p>All India</p> Signup and view all the answers

    In terms of Section 2 (ci) of the RBI Act, 1934, the “inflation” means the year wise change in monthly ___________ expressed in terms of percentage.

    <p>Consumer Price Index</p> Signup and view all the answers

    Which one of the followings is referred by “International Finance Corporation” in terms of Section 2 (cb) of the RBI Act, 1934?

    <p>Corporation</p> Signup and view all the answers

    In terms of Section 2 (e) of the RBI Act, 1934, the “scheduled bank” means a bank included in the ____________ Schedule of the Act.

    <p>Second Schedule</p> Signup and view all the answers

    In terms of Section 2 (ccc) of the RBI Act, 1934, the “National Bank” means a National Bank for Agriculture and Rural Development established under the _______________________.

    <p>NABARD Act, 1981</p> Signup and view all the answers

    In terms of Section 2 (ci) of the RBI Act, 1934, the “inflation” means the year wise change in monthly Consumer Price Index expressed in terms of ________.

    <p>percentage</p> Signup and view all the answers

    In terms of Section 2 (bvi) of the RBI Act, 1934, the “Deposit Insurance Corporation” means the Deposit Insurance Corporation established under the _______________________.

    <p>Deposit Insurance Corporation Act, 1961</p> Signup and view all the answers

    Which one of the followings is referred by “International Development Association” in terms of Section 2 (ca) of the RBI Act, 1934?

    <p>Association</p> Signup and view all the answers

    In terms of Section 2 (bviiia) of the RBI Act, 1934, the “Exim Bank” means the Export-Import Bank of India established under the _______________________.

    <p>Export-Import Bank of India Act, 1981</p> Signup and view all the answers

    Study Notes

    666 MCQs on RBI Act, 1934

    • This document contains 666 multiple-choice questions (MCQs) about the Reserve Bank of India Act, 1934.
    • The questions cover all chapters of the Act.
    • Answers are provided at the end of each chapter.

    Preface

    • The author thanks readers for their feedback on a previous book about the RBI's Annual Report.
    • The book took over two months to prepare and covers every section of the act thoroughly
    • The author used abbreviations for CG (Central Government), SG (State Government), and FI (Financial Institution) for the MCQs.
    • Errors in the MCQs, if any, are acknowledged.

    Contents

    • The document lists the chapters and the number of MCQs in each chapter.
    • The chapters include Preliminary, Incorporation, Capital, Management & Business, Central Banking Functions, Collection & Furnishing of Credit Information, Prohibition of Acceptance, Regulation of Transactions, Provisions relating, Joint Mechanism, Monetary Policy, General Provisions, and Penalties.
    • A total of 666 MCQs are included in the document.

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    666 MCQs on RBI Act, 1934 PDF

    Description

    This quiz features 666 multiple-choice questions covering the Reserve Bank of India Act, 1934. It encompasses all sections of the Act, ensuring a comprehensive understanding of the subject matter. Answers are provided at the end of each chapter for self-assessment.

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