RBI MCQs | Reserve Bank of India Multiple Choice Questions(MCQs) & Answers

1 On which commission’s recommendations; Reserve Bank of India was established?
A Chamberlain Commission
B Hilton Young Commission
C Keynes Commission
D None of the above

Answer: Hilton Young Commission
2 Who mints the coins in India?
A Ministry of Finance
B Reserve Bank of India
C Prime Minister's Office
D Commerce and Industry Ministry

Answer: Ministry of Finance
3 Who was the first governor of Reserve Bank of India from Indian origin?
A Osborne Smith
B C. Rajagopalachari
C L. K. Jha
D C.D. Deshmukh

Answer: C.D. Deshmukh
4 What is CRR?
A Cash Reserve Ratio
B Current Ratio Rate
C Review Report
D Credit Rating Record

Answer: Cash Reserve Ratio
5 Where is the Head Quarter of Reserve Bank of India?
A Mumbai
B Delhi
C Kolkotta
D Ahmedabad

Answer: Mumbai
6 When was the second phase of nationalisation done?
A 9th July 1969
B 10th July 1968
C 16th August 1985
D 15th April, 1980

Answer: 15th April, 1980
7 When was Indian Banking Act come into force?
A 1948
B 1949
C 1950
D 1951

Answer: 1949
8 When was OMBUDS MEN SCHEME first introduced?
A November 2006
B October 1981
C June 1995
D January 1998

Answer: June 1995
9 The period for Call Money is ________
A 10 to 15days
B 1 to 14 Days
C 15 to 30 Days
D One Month

Answer: 1 to 14 Days
10 ATMs that are owned and managed by non-banking entities are known as -
A Red Label ATMs
B White Label ATMs
C Green Label ATMs
D Blue Label ATMs

Answer: White Label ATMs
11 The tax levied by Central Government and collected by State Governmentis ________
A Stamp Duty
B Excise Duty
C Income Tax
D Gift Tax

Answer: Stamp Duty
12 The share of State Govt in the capital of Regional Rural Bank is –
A 50%
B 35%
C 25%
D 15%

Answer: 15%
13 The largest revenue in India is obtained from __________
A Railways
B Excise Duty
C Sales Tax
D Direct Taxes

Answer: Excise Duty
14 The tax levied by Local Governments i.e. Municipal Corporations and municipalities is ____________
A Income Tax
B Wealth Tax
C House Tax
D Gift Tax

Answer: House Tax
15 In which denomination were India's first bimetallic coins issued in the year 2009?
A Rs. 100
B Rs. 5
C Rs. 10
D Re. 1

Answer: Rs. 10
16 What is the major share in revenue of State Governments?
A Stamp Duty
B Excise Duty
C Sales Tax
D Income Tax

Answer: Sales Tax
17 The tax collected by the State Governments and given to local bodies is __________
A Income Tax
B Wealth Tax
C House Tax
D Professional Tax

Answer: Pseudoviruses
18 Who regulates the money circulation in India?
A State Bank of India
B Reserve Bank of India
D Commercial Banks

Answer: Reserve Bank of India
19 Which of the following is not an organized sector in India?
A Nationalised Banks
B Regional Rural Banks
C Cooperative Banks
D Chits and Money lenders

Answer: Chits and Money lenders
20 Who introduced the Banking Ombudsmen Scheme?
C Ministry of Finance

Answer: ARBI

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