Home › Quizzes › Reserve Bank of India Act, 1934

Reserve Bank of India Act, 1934

Test your knowledge on the Reserve Bank of India Act, 1934, a pivotal legislation governing the central banking system of India.

15 Questions Published
Play Quiz Practise this topic out loud

Questions

Question 1 Multiple Choice (Single Answer)

The Reserve Bank of India was established under which section of the Reserve Bank of India Act, 1934?

  1. Section 3
  2. Section 4
  3. Section 5
  4. Section 6
Question 2 Multiple Choice (Single Answer)

What is the primary objective of the Reserve Bank of India, as outlined in the Act?

  1. To regulate the monetary and credit system of India
  2. To manage the foreign exchange reserves of India
  3. To promote economic growth and development
  4. To supervise the banking system in India
Question 3 Multiple Choice (Single Answer)

Who is the head of the Reserve Bank of India?

  1. The Governor
  2. The Deputy Governor
  3. The Chairman
  4. The Managing Director
Question 4 Multiple Choice (Single Answer)

How many Deputy Governors are appointed by the Central Government under the Act?

  1. One
  2. Two
  3. Three
  4. Four
Question 5 Multiple Choice (Single Answer)

What is the minimum paid-up capital and reserve fund required for a banking company to be eligible for inclusion in the Second Schedule of the Act?

  1. ₹5 lakh and ₹1 lakh
  2. ₹10 lakh and ₹2 lakh
  3. ₹15 lakh and ₹3 lakh
  4. ₹20 lakh and ₹4 lakh
Question 6 Multiple Choice (Single Answer)

Which section of the Act empowers the Reserve Bank of India to issue banknotes?

  1. Section 22
  2. Section 23
  3. Section 24
  4. Section 25
Question 7 Multiple Choice (Single Answer)

What is the maximum amount of banknotes that the Reserve Bank of India can issue without the approval of the Central Government?

  1. ₹200 crore
  2. ₹400 crore
  3. ₹600 crore
  4. ₹800 crore
Question 8 Multiple Choice (Single Answer)

Under which section of the Act can the Reserve Bank of India grant loans and advances to State Governments?

  1. Section 17
  2. Section 18
  3. Section 19
  4. Section 20
Question 9 Multiple Choice (Single Answer)

What is the maximum amount that the Reserve Bank of India can lend to a State Government under Section 17 of the Act?

  1. ₹100 crore
  2. ₹200 crore
  3. ₹300 crore
  4. ₹400 crore
Question 10 Multiple Choice (Single Answer)

Which section of the Act authorizes the Reserve Bank of India to act as banker to the Government of India?

  1. Section 20
  2. Section 21
  3. Section 22
  4. Section 23
Question 11 Multiple Choice (Single Answer)

What is the maximum amount that the Reserve Bank of India can lend to the Government of India under Section 20 of the Act?

  1. ₹100 crore
  2. ₹200 crore
  3. ₹300 crore
  4. ₹400 crore
Question 12 Multiple Choice (Single Answer)

Under which section of the Act can the Reserve Bank of India purchase and sell foreign exchange?

  1. Section 33
  2. Section 34
  3. Section 35
  4. Section 36
Question 13 Multiple Choice (Single Answer)

What is the maximum amount of foreign exchange that the Reserve Bank of India can purchase or sell in a single day?

  1. $10 million
  2. $20 million
  3. $30 million
  4. $40 million
Question 14 Multiple Choice (Single Answer)

Which section of the Act authorizes the Reserve Bank of India to regulate the acceptance of deposits by non-banking companies?

  1. Section 45
  2. Section 46
  3. Section 47
  4. Section 48
Question 15 Multiple Choice (Single Answer)

What is the maximum amount of deposits that a non-banking company can accept from the public without the permission of the Reserve Bank of India?

  1. ₹10 lakh
  2. ₹20 lakh
  3. ₹30 lakh
  4. ₹40 lakh
← Back to Quizzes