1.	How many members are there in the Indian Monetary Policy Committee ?
	6
	5
	21
	3
	Answer: 6 Explanation: The meetings of the Monetary Policy Committee are held at least 4 times a year and it publishes its decisions after each such meeting. The committee comprises six members - three officials of the Reserve Bank of India and three external members nominated by the Government of India.
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2.	In the older monetary system of India, ‘One Anna’ used to be what part of ‘One Rupee’ ?
	16th Part of a Rupee
	20th part of a Rupee
	10th Part of a Rupee
	Sixth part of a Rupee
	Answer: 16th Part of a Rupee Explanation: An anna (or ?nna) was a currency unit formerly used in British India, equal to 1 ?1 6 of a rupee. It was subdivided into four (old) Paisa or twelve pies (thus there were 192 pies in a rupee). When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise.
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3.	Who is the Chairman of the Monetary Policy Committee ?
	Finance Minister of India
	President of India
	Governor of the Reserve Bank of India
	Prime Minister of India
	Answer: Governor of the Reserve Bank of India Explanation: The composition of the current and first monetary policy committee is as follows: Governor of the Reserve Bank of India – Chairperson, ex officio - Shaktikanta Das. Deputy Governor of the Bank, in charge of Monetary Policy—Member, ex officio - BP Kanungo.
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4.	Which of the following is a nationalized bank in India ?
	Axis Bank
	State Bank of India
	ICICI Bank
	Yes Bank
	Answer: State Bank of India Explanation: The Central Bank of India - RBI, in its official website has listed the following 19 banks as nationalized banks. The major nationalized banks in India are State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB), Canara Bank, Union Bank of India and so on.
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5.	Which of the following institutions does NOT regulate capital markets in India ?
	RBI
	SEBI
	Ministry of Finance
	IRDA
	Answer: IRDA Explanation: The Securities & Exchange Board of India (SEBI),The Ministry of Finance (MoF), and the Reserve Bank of India (RBI) are the three regulatory authorities governing Indian capital markets.
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6.	Which of the following Acts was amended to provide a statutory basis for the implementation of the flexible inflation targeting (FIT) framework ?
	Deposit Insurance and Credit Guarantee Corporation Act, 1961
	Banking Regulation Act, 1949
	Reserve Bank of India (RBI) Act, 1934
	The Industrial Finance Corporation of India Act, 1948
	Answer: Reserve Bank of India (RBI) Act, 1934 Explanation: In May 2016, The Reserve Bank of India Act of 1934 was amended to provide a legal basis for the execution of the flexible inflation targeting agenda. The edited RBI Act also provides for the inflation target to be set by the Indian Government, after discussing with the Reserve Bank, once in every five years.
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7.	Reserve Bank of India, which acts as a banker to the Central Government, was established on ?
	1st April 1935
	1st April 1948
	1st April 1950
	1st April 1945
	Answer: 1st April 1935 Explanation: Reserve Bank of India, which acts as a banker to the Central Government, was established on 1st April 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
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8.	Who among the following formulates the monetary policy in India ?
	Reserve Bank of India
	NITI Aayog
	Finance Commission of India
	The Ministry of Statistics and Programme Implementation
	Answer: Reserve Bank of India Explanation: Reserve Bank of India is responsible for formulating the monetary policy in India.
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9.	Which of the following options is NOT correct about the Payment Banks ?
	Giving loSol to the primary sector is not mandatory
	CRR /SLR requirements should be fulfilled
	Credit Cards can be issued
	No NRI deposits
	Answer: Credit Cards can be issued Explanation: Payment banks cannot lend or offer credit advance to customers like traditional banks. They can issue cheque books and debit cards but not credit cards. Also, unlike traditional banks, you can keep a limited sum in a payment bank account, currently capped at Rs 1 lakh per account.
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10.	Which Index is used by RBI to decide repo rate and measure Inflation ?
	CPI-Rural
	CPI-Combined
	IIP
	WPI
	Answer: WPI Explanation: The Reserve Bank of India (RBI) primarily used WPI inflation for the formulation of monetary policy under monetary targeting framework as well as under multiple indicator approach (MIA)— although inflation measured by other indices was also monitored/ analysed.
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