Reserve Bank of India: Functions and Role
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Questions and Answers

When did the Reserve Bank of India start its operations?

  • 1935 (correct)
  • 1926
  • 1949
  • 1934
  • What was the recommendation of the Hilton Young Commission?

  • To nationalize the Reserve Bank of India
  • To separate the control of currency and credit from the Government (correct)
  • To establish State Bank of India
  • To merge the Reserve Bank with other banks
  • Which country seceded from the Indian Union in 1937?

  • Sri Lanka
  • Bangladesh
  • Pakistan
  • Burma (Myanmar) (correct)
  • In which year was the Reserve Bank of India nationalized?

    <p>1949</p> Signup and view all the answers

    When did the State Bank of Pakistan commence operations?

    <p>1947</p> Signup and view all the answers

    When did the nationalization of RBI take place?

    <p>1948</p> Signup and view all the answers

    Where was the Central Office of the Reserve Bank initially established?

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

    What is the primary purpose of the Deposit Insurance and Credit Guarantee Corporation (DICGC)?

    <p>Providing insurance of deposits and guaranteeing credit facilities</p> Signup and view all the answers

    What is the key central banking function mandated to the RBI?

    <p>Issuing bank notes</p> Signup and view all the answers

    What does the Preamble of the Reserve Bank of India describe as its basic functions?

    <p>All of the above</p> Signup and view all the answers

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