PSC Repeated Questions on Reserve Bank of India (RBI)

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Previous Year PSC Questions on Reserve Bank of India (RBI)
This post lists some of the previous years' repeated PSC questions and answers on 'Reserve Bank of India (RBI).'

Reserve Bank of India (RBI)

  • ഇന്ത്യൻ ബാങ്കിങ് സംവിധാനത്തെ നിയന്ത്രിക്കുന്ന ധനകാര്യ സ്ഥാപനം – RBI. (Previous Year PSC Question – Fire & Rescue Officer, Plus 2 Mains, 2023)
  • Where is the Head Quarters of Reserve Bank of India? Mumbai. (Previous Year PSC Question – Junior Clerk-Cooperative Service Exam Board, 2014, Laboratory Technical Assistant – Banking Assistance(VHSE) 2015)
    • ഭാരതീയ റിസർവ് ബാങ്കിന്റെ ആസ്ഥാനം – മുംബൈ. (Previous Year PSC Question – LD Clerk Prelims Stage II, 2023) 
  • The year in which the Reserve Bank of India Act Passed – 1934. (Previous Year PSC Question – Assistant Manager (F& A), Kerala State Co-operative Consumer’s Federation Ltd, 2014)
  • When was Reserve Bank of India established? 1935. (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014, Clerk/Cashier, 2015, Junior Clerk, Primary Co-operative Banks, 2016, Laboratory Technical Assistant – Banking Assistance(VHSE) 2015; (Range Forest Officer (By Transfer) Prelims, 2023))
  • The Chief Executive of RBI is called – Governor. (Previous Year PSC Question – Junior Clerk, Primary Co-operative Banks, 2016)
  • Who is the new Governor of Reserve Bank of India? Shaktikanta Das.*  (Previous Year PSC Question – Civil Excise Officer, 2014, Excise Guard /Women Excise Guard, Excise (Palakad, Thrissur), 2014)
    • The Chairman of Reserve Bank – Shaktikanta Das.*  (Previous Year PSC Question – Confidential Assistant Grade-II [Company, Corporation, Board] 2016)
  • Reserve Bank of India was nationalized in – 1949. (Previous Year PSC Question – Junior Clerk, Primary Co-operative Banks, 2016)
  • The first Governor of Reserve Bank of India – Osborne Smith. (Previous Year PSC Question –Ophthalmic Assistant Gr-II(Sr For SC/ST), Medical Education, 2018)
    • The First Governor of Reserve Bank of India – (Previous Year PSC Question – Scientific Assistant – Chemistry(NCA-SC), Police(Forensic Science Laboratory 2016)
      • (A) C.D. Deshmukh (B) B. Rama Rao  (C) S. Jagannathan  (D) P.C. Bhattacharya
  • Long serving Reserve Bank Governor – Benegal Rama Rau. (Previous Year PSC Question – University Assistant, 2019)
  • The Central Bank is called____Bank – Banker's. (Previous Year PSC Question – Junior Clerk, Primary Co-operative Banks, 2016)
  • Who regulates the money circulation in India?  Reserve Bank of India. (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014)
  • Who will Act as the Banker to the Govt.of India? Reserve Bank of India.  (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014)
  • The Bank that is known as ‘Custodian of Foreign Currency’ is – Reserve Bank of India.   (Previous Year PSC Question – Stenographer, Drugs & Pharmaceuticals Ltd, 2014)
    • ____is the custodian of foreign exchange reserve of India – Reserve Bank of India. (Previous Year PSC Question – Junior Clerk, Primary Co-operative Banks, 2016)
  • The Custodian of National Rural Credit Stabilisation Fund is – Reserve Bank of India.  (Previous Year PSC Question – Junior Clerk, Primary Co-operative Banks, 2016)
  • In the banking sector, the lender of last resort is – Reserve Bank of India. (Previous Year PSC Question – Data Entry Operator, 2016)
  • Banking  Ombudsman is appointed by – Reserve Bank of India. (Previous Year PSC Question – Civil Excise Officer, 2014; Clerk-Typist, 2017)
    • Who introduced the Banking Ombudsmen Scheme – Reserve Bank of India. (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014)
  • The Banking Ombudsman Scheme was first introduced in India in – 1995. (Previous Year PSC Question – Laboratory Technical Assistant – Banking Assistance(VHSE) 2015)
  • Who will settle the grievances of customers of Banks? Banking Ombudsman. (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014)
  • In India, Treasury bills are issued by – Reserve Bank of India. (Previous Year PSC Question – Laboratory Technical Assistant – Banking Assistance(VHSE) 2015)
  • ______is a bank which is included in the second schedule of the RBI Act. 1934 – Scheduled Bank. (Previous Year PSC Question – Clerk/Cashier, 2015)
  • First paper currency issued by Reserve Bank of India in 1938 was – 5 Rupee Note. (Previous Year PSC Question – Research Assistant (Numismatics), 2023)
  • The rate of interest payable on various deposits is determined by the – Reserve Bank of India. (Previous Year PSC Question – Junior Clerk Cooperative Service Exam Board, 2014)
  • The most powerful tool used by the Reserve Bank of India to control inflation is – Raise interest rate and reduce currency supply. (Previous Year PSC Question – Secretary Cooperative Service Exam Board 2014)
  • The rate at which  RBI lends to the banks under liquidity adjustment facility is – Repo Rate. (Previous Year PSC Question – Laboratory Technical Assistant – Banking Assistance(VHSE) 2015)
  • The Reserve Bank of India has decided to withdraw from circulation all currency notes printed before the year 2005. What is the last date fixed by the RBI for the free exchange of these notes through banks? – January 1, 2015. (Previous Year PSC Question – Assistant Grade II, Kerala Veterinary University, 2014)
  • Expansion and contraction of currency takes place through the______of RBI – Banking department. (Previous Year PSC Question – Superintendent In Government Commercial Institute, Technical Education, 2014)
  • _______are always issued in favor of Reserve Bank of India only – Ad-hoc treasury bill. (Previous Year PSC Question – Superintendent In Government Commercial Institute, Technical Education, 2014)
  • ഭാരതീയ റിസർവ് ബാങ്കിനെ (RBI) സംബന്ധിച്ചു താഴെപ്പറയുന്ന പ്രസ്താവനകളിൽ ശരിയായവ തിരഞ്ഞെടുക്കുക: (Previous Year PSC Question – Assistant Prison Officer, 2023)
    1. 1935-ൽ സ്ഥാപിതമായി 
    2. ഒരു രൂപ മുതൽ എല്ലാ നോട്ടുകളും പുറത്തിറക്കുന്നു 
    3. 1949-ൽ ദേശസാൽക്കരിച്ചു
    4. ആസ്ഥാനം മുംബൈ ആണ് 
    • A) 1, 2 ഇവ ശരിയാണ്             B) 2, 3, 4 എന്നിവ ശരിയാണ് 
    • C) 1, 3, 4 എന്നിവ ശരിയാണ്      D) എല്ലാം ശരിയാണ് 
  • Which is the best policy combination for RBI to reduce money supply in the economy? (Previous Year PSC Question – Degree Prelims, Stage II, 2023) 
    1. Reduce reverse repo rate, increase reserve ratio and open market sale of bonds.
    2. Increase repo rate, increase reserve ratio and open market sale of bonds.
    3. Reduce repo rate, reduce Bank rate and open market purchase of bonds.
      • (A) (1)   (B) (1 and 3)   (C) (3)   (D) (2)
  • National Electronics Fund Transfer is under the control of – Reserve Bank of India.  (Previous Year PSC Question – HSST Geography, 2023) 
                          • The SDF operationalized by RBI on 8th April 2022 – Replaced the Fixed Reverse Repo Rate as the floor of LAF.  (Previous Year PSC Question – Computer Operator, 2023) 
                          • Which among the following measures will reduce the supply of money in the economy? (Previous Year PSC Question – Degree level Prelims, Stage 1, 2021)
                            • (A) Purchase of Government Securities by RBI
                            • (B) Sale of Government Securities by RBI
                            • (C) Borrowings of the Central Government from RBI
                            • (D) None of the above
                          • Which of the following is/are correct regarding the Repo rate?  (Previous Year PSC Question – Degree level Prelims, Stage 1, 2021)
                            • i. It is always lower than the Bank rate
                            • ii. It is always higher than reverse Repo rate
                            • iii. It focuses on short term financial needs
                            • iv. No collateral is involved when it is charged
                              • (A) Only i and ii    (B) i, ii and iii    (C) Only i and iii   (D) All the above

                                                  * Updated according to the current statistics

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