Indian Banking System & RBI Quiz

Questions and Answers

Reserve Bank of India

1935

All of the above

Manage issue of the currency, public debt, and exchange control Signup and view all the answers

Shareholders' bank Signup and view all the answers

Autonomous association Signup and view all the answers

Any person able to use their services Signup and view all the answers

To serve the community as a whole Signup and view all the answers

It is independent and self-governing Signup and view all the answers

A group of people working together for a common purpose Signup and view all the answers

Study Notes

The Reserve Bank of India (RBI) is at the apex level of the Indian banking system.

The RBI was formed in 1935.
The RBI performs various functions, including:
- Regulating and supervising the banking system
- Maintaining the economic stability of the country
- Managing the foreign exchange
- Acting as a banker to the government
- Maintaining the monetary policy
The original role of the RBI was to act as a banker and debt manager to the government, and to manage the exchange rate and foreign exchange.

There are different types of banks in the Indian banking system, including cooperative banks.
The main principle of cooperation is autonomy, with other principles including voluntary and open membership, democratic member control, and concern for community.
Mutual aid is NOT a principle of cooperation.
Anyone can become a member of a cooperative, as long as they have a common interest or goal.
The main purpose of a cooperative society is to serve the needs of its members, and to provide economic and social benefits to them.
A cooperative is considered autonomous when it is free from external control and is self-governing.
A cooperative is defined as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.