When was Reserve bank of India formed?
a)1935 April 1
When was RBI nationalised?
a)1st January 1949
RBI is divided into 2 departments. Name it?
a)Banking department and Issue department
What are the main functions of Banks?
a)Receiving money on deposits
Issuing of notes
Transferring money from place to place
Issueing of various forms of credit
Underwriting of capital issues
Acceptance of bills of exchange
Providing locker etc...
What are the four classes of commercial banks?
a)Public sector, Private sector, Foreign Banks, Regional
Rural Banks, Co-operative banks
Under which act was constitution of SBI done?
a)State Bank of India Act 1955
What are the functions of Reserve Bank of India?
a)Regulates the issue of currency
Banker to government (both central and state government)
Banker to the commercial banks. It accepts and lends
money to the commercial banks
It controls the volume of credit created by the
commercial banks
It controls the internal and external value of rupee.
What is currency chest?
a)It is the place in which stokes of issuable and new
notes are stored along with rupee coin. It is run by the RBI, SBI, Public
Sector banks, Treasuries etc. The bank can draw and deposit funds according to
its need. Cash remitted to currency chest are taken to account for maintenance
of Cash Reserve Ratio.
Who issues 1 rupee notes and coins?
a)Govt. of India
Who issues notes and coins of other denominations except
1 rupee?
a)Reserve Bank of India
As per the Census 2011, what per cent of rural households
had access to banking services?
a)54.4 per cent
Expand MIS?
a)Management Information System
What is bank rate?
a)It is rate at which RBI makes advances against approved
securities of purchase of re discount eligible bills to provide financial accommodation
to commercial and financial institutions
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