RBI, Monetary policy, TB Flashcards
(25 cards)
When was the Reserve Bank of India established?
1st April 1935 under the RBI Act, 1934.
Who was the first Governor of RBI?
Sir Osborne Smith (1935–1937).
Who was the first Indian Governor of RBI?
C.D. Deshmukh (3rd Governor of RBI).
When was RBI nationalized?
1st January 1949.
RBI was the central bank of which two countries besides India?
Burma (till 1947) and Pakistan (till 30 June 1948).
Where is the headquarters of RBI located?
Mumbai (since 1937).
Who is the current RBI Governor?
Shaktikanta Das.
How many Deputy Governors are there in RBI?
4 Deputy Governors.
How many members are there in the RBI Board?
21 members.
What is one of the primary functions of the RBI?
To issue currency and control the money supply.
Which act empowers RBI to regulate banks?
Banking Regulation Act, 1949.
When was the Banking Ombudsman scheme established?
1995.
What is the function of the Banking Ombudsman?
To redress customer complaints.
What is the objective of Monetary Policy?
To maintain price stability and ensure economic growth.
When was the Monetary Policy Committee (MPC) constituted?
27 June 2016.
Who recommended the formation of MPC?
Urjit Patel Committee.
What is the current (2022) Repo Rate?
4.90%.
What is the Reverse Repo Rate?
3.35%.
What is the Bank Rate?
5.15%.
What is the CRR?
4.5%.
What is the SLR?
18%.
What is the minimum amount for RTGS?
₹2 lakhs.
What is the minimum amount for NEFT?
No minimum limit.
What is the maturity period of 91-day Treasury Bills?
91 days (weekly auction).
