Questions and Answers
What is the primary role of the RBI in India?
When was the Reserve Bank of India established?
Which of the following entities does the RBI supervise?
Under which act was the RBI established?
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What type of institutions does the RBI include in its consolidated supervision?
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Study Notes
Reserve Bank of India (RBI)
- Established on April 1, 1935, under the RBI Act, 1934.
- Acts as the central bank of India, overseeing the country's monetary policy and financial stability.
Key Roles and Functions
- Supervises all banking operations in India, ensuring compliance and risk management among banks.
- Conducts consolidated supervision of the financial sector, which includes:
- Commercial banks
- Financial institutions
- Non-banking finance firms
- Plays a critical role in maintaining public confidence in the banking system and financial stability.
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Description
This quiz delves into the role and significance of the Reserve Bank of India (RBI), established in 1935. It covers the RBI's functions, including its supervision of financial institutions and contribution to the stability of India's financial sector.
