Here are some MCQs on Major Provisions of RBI Act
1. Which Act established the Reserve Bank of India (RBI)?
a) Reserve Bank of India (Amendment) Act, 1934
b) Reserve Bank of India Act, 1934
c) Reserve Bank of India (Amendment) Act, 1949
d) Reserve Bank of India Act, 1949
2. The RBI’s primary objective, as stated in the RBI Act, is to:
a) Encourage economic growth
b) Control inflation
c) Maintain financial stability
d) All of the above
3. Under the RBI Act, the RBI has the power to issue and regulate the country’s currency. Which entity is responsible for printing the currency notes?
a) Ministry of Finance
b) State Bank of India
c) Securities and Exchange Board of India (SEBI)
d) Reserve Bank of India (RBI)
4. How many deputy governors does the RBI Act allow the RBI to have?
a) 1
b) 2
c) 3
d) 4
5. Which Act introduced the provision for setting up of the Monetary Policy Committee (MPC) in the RBI?
a) Reserve Bank of India (Amendment) Act, 1934
b) Reserve Bank of India Act, 1934
c) Reserve Bank of India (Amendment) Act, 1949
d) Reserve Bank of India Act, 1949
