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Consider the following statements about money in India:
1. The Reserve Bank of India issues currency notes on behalf of the central government.
2. Currency notes and coins are called fiat money because they have no intrinsic value.
3. Demand deposits are legal tender because payment can be made from them by cheque.
Which of the statements given above is/are correct?
Match List-I (monetary term) with List-II (meaning).
| List-I (Term) | List-II (Meaning) |
|---|---|
| A. Cash Reserve Ratio | 1. Rate at which the RBI lends to commercial banks |
| B. Statutory Liquidity Ratio | 2. Percentage of deposits a bank must keep as cash reserves |
| C. Bank rate | 3. Reserves banks must keep in liquid form |
| D. Repo | 4. RBI lends against securities with a promise to buy them back |
Select the correct answer using the codes given below.
Arrange the following events in Indian banking history in chronological order:
1. Nationalisation of the Reserve Bank of India
2. Six more banks nationalised
3. Enactment of the Reserve Bank of India Act
4. RBI central office moved permanently from Kolkata to Mumbai
Select the correct chronological order.
Consider the following statements:
1. A Self Help Group usually has 15 to 20 members.
2. The Grameen Bank is a well-known example of lending to the poor in India.
3. Professor Muhammad Yunus received the Nobel Peace Prize in 2006.
Which of the statements given above is/are correct?
The RBI wants to reduce the money supply in the economy. Consider the following measures:
1. Buying government securities in the open market
2. Raising the Cash Reserve Ratio
3. Raising the repo rate
Which of the measures given above would help achieve this aim?
Consider the following statements about the Monetary Policy Committee (MPC):
1. It has six members: three from the RBI and three appointed by the government.
2. It is chaired by the RBI Governor.
Which of the statements given above is/are correct?
Consider the following statements:
1. The demonetisation of November 2016 withdrew the old Rs 100 and Rs 500 notes.
2. The one-rupee note is issued by the Ministry of Finance.
3. A cheque instructs the bank to pay a specific amount from the payer's account to the person named.
Which of the statements given above is/are correct?
Consider the following events:
1. Muhammad Yunus is awarded the Nobel Peace Prize
2. The Reserve Bank of India begins functioning
3. Old Rs 500 and Rs 1000 notes are demonetised
4. Fourteen major banks are nationalised
Select the correct chronological order.
Consider the following statements about the Reserve Bank of India:
1. It is the custodian of the country's foreign exchange reserves.
2. As banker to the government, it handles the government's accounts.
3. It began functioning with its central office in Mumbai.
Which of the statements given above is/are correct?
Consider the following statements about the RBI's tools of monetary control:
1. Moral suasion is a qualitative tool.
2. The bank rate is a quantitative tool.
3. Open market operations are a qualitative tool.
Which of the statements given above is/are correct?
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