Competitive Exam

The IMF was established in which year? A) 1945 B) 1950 C) 1960 D) 1970 Answer: A The headquarters of the IMF is located in which city? A) Geneva B) Paris C) Washington D.C. D) London Answer: C Which of the following is not a function of the IMF? A) Promoting international monetary cooperation B) Facilitating international trade C) Providing financial assistance to member countries D) Promoting global economic growth Answer: B Which of the following is not a condition for a country to become a member of the IMF? A) Being a member of the United Nations B) Having a market-based economy C) Having a stable exchange rate system D) Agreeing to abide by the IMF's Articles of Agreement Answer: B The IMF's Special Drawing Rights (SDRs) are primarily used for what purpose? A) To finance the IMF's day-to-day operations B) To provide loans to developing countries C) To supplement the official reserves of member countries D) To purchase gold on the international market Answer: C What

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Which among the following is not a function of the Reserve Bank of India? a) Issuing currency notes and coins b) Regulating foreign exchange transactions c) Conducting monetary policy d) Issuing government securities Answer: d) Issuing government securities The Reserve Bank of India was established on: a) April 1, 1935 b) July 1, 1955 c) August 15, 1947 d) January 26, 1950 Answer: a) April 1, 1935 Which committee recommended the establishment of the Reserve Bank of India? a) Hilton Young Commission b) FSLRC Committee c) Raghuram Rajan Committee d) Narasimham Committee Answer: a) Hilton Young Commission What is the current repo rate in India as of March 2023? a) 5% b) 4.75% c) 4.50% d) 4.25% Answer: a) 5% The Reserve Bank of India issues currency notes in denominations up to: a) Rs. 5000 b) Rs. 10,000 c) Rs. 20,000 d) Rs. 50,000 Answer: b) Rs. 10,000 Who is the current Governor of the Reserve Bank of India? a) Urjit Patel b) Shaktikanta Das c) Raghuram Rajan d) Duvvuri Subbarao Answer

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Reserve Bank of India (RBI) Introduction: The Reserve Bank of India (RBI) is India's central bank and is responsible for regulating the country's monetary policy. It was established on April 1, 1935, under the Reserve Bank of India Act, 1934. The RBI performs various functions related to banking, finance, and the economy. In this blog, we will discuss the roles and functions of the RBI, its history, and its significance in the Indian economy. History of RBI: The Reserve Bank of India was established on the recommendations of the Hilton Young Commission. The commission was appointed in 1926 to study the country's banking system and recommend measures to improve it. The commission recommended the establishment of a central bank to regulate the country's monetary policy. The RBI was established in 1935 and started functioning from April 1, 1935. Roles and Functions of RBI: The RBI performs various functions related to the Indian economy. Here are some of its significant

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