Practice Money, Banking and the RBI – GK Quiz with Answers – Level 1

Money allows the value of every good to be expressed in rupees. This function of money is called:

Which form of money was used in old India?

Currency notes and coins that have no intrinsic value of their own are called:

In which year were the old Rs 500 and Rs 1000 notes withdrawn in India through demonetisation?

An asset such as land or a house that is kept as a guarantee until a loan is repaid is called:

How many members does a Self Help Group (SHG) usually have?

The Grameen Bank, known for giving loans to the poor at low interest, belongs to which country?

The Reserve Bank of India was set up under the RBI Act of which year?

In which city was the central office of the Reserve Bank of India first located?

What does CRR stand for in banking?