Banking and Financial Awareness for RBI/IBPS Exams

Q1. RBI was established (April 1, 1935) under which of the following Acts? 

a) Reserve Bank of India Act, 1934
b) Reserve Bank of India Act, 1926 
c) Banking Regulation Act, 1949 
d) Negotiable Instrument Act, 1881 

Q2. Who was the first Indian governor of RBI? 
a) Osborne Smith 
b) C D Desmukh
c) James Taylor 
d) Bimal Jalan
Q3. In which year RBI was nationalized? 
a) 1955 
b) 1949
c) 1947 
d) 1980 
Q4. Who among the following is not incumbent (as of July 10, 2016) Deputy Governor of RBI? 
a) NS Vishwanathan
b) R Gandhi
c) SS Mundra
d) Usha Thorat
Q5. Every bank wishing to commence banking business in India is required to obtain a licence from?
(a) Government of India, Ministry of Finance 
(b) Government of India, Company Law Board 
(c) Reserve Bank of India
(d) Registrar of Companies
Q6. RBI recently proposed a new post in the rank of Deputy Governor (along with the 4 Deputy Governors). Which one is that post? 
a) Chief Executive Officer (CEO) 
b) Chief Operating Officer (COO) 
c) Chief Finance Officer (CFO) 
d) CEO and Managing Director (CMD) 

Q7. Which one of the following rates is not decided by RBI? 
a) Repo rate 
b) Base rate 
c) Bank rate 
d) Marginal Standing Facility (MSF) rate 
Q8. Which of the following bank is generally not considered as Commercial bank? 
a) Public Sector Bank 
b) Private Sector Bank 
c) Development Bank
d) Foreign Bank 
Q9. Which of the followings are Development Banks of India? 
a) Industrial Finance Corporation of India (IFCI) 
b) State Finance Corporations (SFCs) 
c) Small Industries Development Bank of India (SIDBI)
d) All of the above
Q10. Which bank are Public Sector Banks of India? 
a) More than 50 % stake held by government
b) 50 % stake held by government 
c) Less than 50 % stake held by government 
d) None of the above