Banking AFCAT Questions

AFCAT Indian Economy

Banking MCQ Questions


1.
The Reserve Bank of India (RBI) commenced its operations on:
A.
26 January 1950, under the Constitution of India
B.
15 August 1947, under the Indian Independence Act
C.
1 January 1949, under the Banking Regulation Act
D.
1 April 1935, under the Reserve Bank of India Act, 1934
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ANSWER :
D. 1 April 1935, under the Reserve Bank of India Act, 1934
2.
The establishment of the RBI was based on the recommendations of the:
A.
Narasimham Committee
B.
Urjit Patel Committee
C.
Hilton Young Commission (the Royal Commission on Indian Currency and Finance, 1926)
D.
Sivaraman Committee
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ANSWER :
C. Hilton Young Commission (the Royal Commission on Indian Currency and Finance, 1926)
3.
At the time of its establishment in 1935, the RBI was constituted as:
A.
A cooperative society owned jointly by commercial banks
B.
A wholly government-owned statutory corporation from the outset
C.
A shareholders' bank, with its share capital privately owned
D.
A department directly under the British Parliament
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ANSWER :
C. A shareholders' bank, with its share capital privately owned
4.
The RBI was nationalised, becoming fully owned by the Government of India, on:
A.
1 January 1949
B.
1 April 1935
C.
26 January 1950
D.
15 August 1947
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ANSWER :
A. 1 January 1949
5.
The first Governor of the Reserve Bank of India was:
A.
Sir Osborne Smith, an Australian professional banker, who served from 1935 to 1937
B.
Sir C. D. Deshmukh
C.
Dr. Manmohan Singh
D.
Sir Benegal Rama Rau
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ANSWER :
A. Sir Osborne Smith, an Australian professional banker, who served from 1935 to 1937
6.
The first Indian to serve as Governor of the RBI was:
A.
Sir C. D. Deshmukh, who served from 1943 to 1949
B.
Sir Osborne Smith
C.
Sir Benegal Rama Rau
D.
Dr. Manmohan Singh
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ANSWER :
A. Sir C. D. Deshmukh, who served from 1943 to 1949