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Banking Sector: Reserve Bank of India (RBI) Establishment

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Banking Sector: Reserve Bank of India (RBI) Establishment

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Questions and Answers

What is one of the roles of RBI as mentioned in the text?

Promoting foreign direct investment

Developing telecommunications infrastructure

Encouraging competition among telecom operators

Regulating and supervising banks and financial institutions (correct)

When was the Reserve Bank of India (RBI) established?

April 1, 1935 (correct)

March 12, 1922

January 26, 1950

August 15, 1947

What impact did the liberalization of the telecommunications sector have in India?

Decreased accessibility of telecommunications services

Increased state monopoly

Fostered innovation and improved services (correct)

Reduced competition among telecom operators

What was one of the primary objectives behind the establishment of the RBI?

Ensuring stability of the country's monetary and financial system Signup and view all the answers

How did the introduction of private players in the telecom sector affect tariffs?

Decreased call and data tariffs Signup and view all the answers

Which institution has the sole right to issue currency notes in India?

Reserve Bank of India (RBI) Signup and view all the answers

What role does RBI play during financial crises?

Providing liquidity support Signup and view all the answers

What role does the RBI play in relation to other banks?

Banker to other banks Signup and view all the answers

What is one outcome of the mobile revolution in India?

Improved rural connectivity Signup and view all the answers

What is one of the functions of the RBI mentioned in the text?

Monetary Policy Formulation Signup and view all the answers

Which policy change occurred in the telecommunications sector post-1991?

Attracting foreign direct investment Signup and view all the answers

What act laid down the provisions for the establishment of the Reserve Bank of India?

Reserve Bank of India Act, 1934 Signup and view all the answers