The question asks to identify the longest-serving Governor in the history of the Reserve Bank of India (RBI). This requires knowledge of the tenures of various RBI Governors.
D) Sir Benegal Rama Rau, who held office for roughly seven and a half years (1949-1957) — Sir Benegal Rama Rau holds the record for the longest tenure as the Governor of the Reserve Bank of India, serving for approximately seven years and seven months, from July 1, 1949, to January 14, 1957.
The question asks to identify the former RBI Governor who later became the Prime Minister of India. This requires knowledge of the career paths of prominent Indian economists and politicians, specifically those who held both positions.
Correct Option: D) Dr. Manmohan Singh, who served as RBI Governor from 1982 to 1985
The question asks about the original and current headquarters of the Reserve Bank of India (RBI). To answer this, one needs to recall the historical facts regarding the establishment and relocation of the RBI's Central Office.
Correct Option: C) Bombay (Mumbai), in 1937
The RBI's Central Office was indeed originally in Calcutta and was moved to Bombay (Mumbai) in 1937, where it has remained ever since. This aligns perfectly with the historical facts.
The question asks about the legal and constitutional status of the Reserve Bank of India (RBI). To answer this, one needs to understand the different ways governmental or quasi-governmental bodies are established in India: through the Constitution, through an Act of Parliament (statutory), or as executive bodies.
Correct Option: C) A statutory body, created by a specific Act of Parliament (the RBI Act, 1934), and not a constitutional body
This option accurately describes the legal foundation of the RBI. It was established by the Reserve Bank of India Act, 1934, making it a statutory body. It is not directly mentioned or created by any article of the Constitution of India.
The question asks about the body responsible for the overall direction and general superintendence of the Reserve Bank of India's (RBI) affairs. This points to the highest governing authority within the RBI's structure.
C) Central Board of Directors. The Central Board of Directors is the main governing body of the RBI. It is responsible for the overall direction and supervision of the bank's affairs, including policy formulation and general administration. This aligns directly with the question's premise.
The question asks about the total number of members comprising the Central Board of Directors of the Reserve Bank of India (RBI). To answer this, one needs to recall the structure and composition of the RBI's Central Board as defined by the Reserve Bank of India Act, 1934.
B) 21 members is the correct answer. The Central Board of Directors of the RBI comprises a total of 21 members, including the Governor, four Deputy Governors, four Directors from Local Boards, ten other nominated Directors, and two Government Officials.