14 Questions
Who is authorized to issue currency notes?
The Central Government
What percentage of the daily balance must banks maintain with the RBI according to the Banking Regulation Act-1949?
Around 5%
What is the current Cash Reserve Ratio (CRR) set by the RBI?
4.50%
What is the maximum percentage of net demand and time liabilities that banks must maintain as security with the RBI according to the Banking Regulation Act-1949?
At least 40%
Who provides refinance facilities to all scheduled banks and acts as the lender of last resort?
Reserve Bank of India
At what paid up capital was the Reserve Bank of India established according to the Currency Act 1948?
5 crores
Under which recommendations was the Reserve Bank of India established?
Both a and b
When was the Central Government nationalized the RBI?
January 1, 1949
How many Deputy Governors does the RBI consist of?
4
Who was the first Governor of the RBI?
O. Smith
Which section of the Indian Banking Act requires every bank to keep 25% of its total deposits in cash and approved securities?
Section 24
What is the primary goal of the Reserve Bank of India's credit regulation measures?
Ensuring 'Growth with Stability'
Under which section of the Indian Banking Act does the Reserve Bank have extensive inspection rights for banks?
Section 35
What is the primary role of the Reserve Bank of India in relation to foreign exchange reserves?
Buying and selling foreign currencies to keep exchange rates stable and safeguard reserves
Test your knowledge about the functions of the Reserve Bank of India as per the RBI Act of 1934. Explore the roles of RBI as the issuer of currency and its responsibilities as a banker, representative, and advisor to the State Governments.
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