Banking Awareness Quiz – Set 20 – Important Sections of RBI Act

Hello and welcome to exampundit. Today we are sharing Important Banking Awareness Questions on Important Sections of RBI Act.

The following Banking and Financial Awareness Quiz on Important Sections of RBI Act is important for the upcoming IBPS PO, Clerk, IBPS RRB and Bank PGDBF 2018.

Following set of Banking and Financial Awareness Quiz has 12 questions From Important Sections of RBI Act with 5 minutes time and moderate level of difficulty.

[WpProQuiz 230]

 

Banking Awareness Quiz on Important Sections of RBI Act

  1. How many sections are there in the Reserve Bank of India Act 1934?

(1) 54

(2) 57

(3) 61

(4) 55

(5) 63

Show Answer
Option: 3

 

  1. Which section defines the Constitution of Monetary Policy Committee in Reserve Bank of India Act 1934?

(1) 45ZB

(2) 45ZA

(3) 42ZB

(4) 42ZA

(5) 44ZB

Show Answer
Option: 1

 

 

  1. Which section of the Reserve Bank of India Act 1934 defines Transactions in foreign exchange?

(1) Section 43

(2) Section 42

(3) Section 41

(4) Section 40

(5) Section 45

Show Answer
Option: 4

 

 

  1. Which section of Reserve Bank of India Act 1934 defines the Denominations of notes?

(1) Section 22

(2) Section 23

(3) Section 24

(4) Section 25

(5) Section 21

Show Answer
Option: 3

 

  1. Which section of Reserve Bank of India Act 1934 provides RBI the Right to issue bank notes?

(1) Section 18

(2) Section 22

(3) Section 20

(4) Section 25

(5) Section 16

Show Answer
Option: 2

 

 

  1. Which section of Reserve Bank of India Act 1934 direct Cash reserves of scheduled banks to be kept with the Bank?

(1) Section 39

(2) Section 31

(3) Section 44

(4) Section 48

(5) Section 42

Show Answer
Option: 5

 

 

  1. The Section 45ZM of Reserve Bank of India Act 1934 is about:

(1) Monetary Policy Report

(2) Inflation target

(3) Powers and duties of auditors

(4) Constitution of Monetary Policy Committee

(5) None of the above

Show Answer
Option: 1

 

 

  1. Which section of the RBI Act deals with Issue of demand bills and notes?

(1) Section 31

(2) Section 32

(3) Section 33

(4) Section 30

(5) Section 29

Show Answer
Option: 1

 

 

  1. Recovery of notes lost, stolen, mutilated or imperfect is dealt under which section of Reserve Bank of India Act 1934?

(1) Section 29

(2) Section 25

(3) Section 23

(4) Section 28

(5) Section 21

Show Answer
Option: 4

 

 

  1. Which section of Reserve Bank of India Act 1934 deals with the Form of bank notes?

(1) Section 25

(2) Section 24

(3) Section 26

(4) Section 27

(5) Section 28

Show Answer
Option: 1

 

 

  1. Which section of RBI Act empowers government to issue directions to the central bank?

(1) Section 17

(2) Section 7

(3) Section 8

(4) Section 10

(5) Section 1

Show Answer
Option: 2

 

 

  1. Which section of RBI Act deals with Establishment and incorporation of Reserve Bank?

(1) Section 1

(2) Section 2

(3) Section 3

(4) Section 4

(5) Section 5

Show Answer
Option: 3

 

 

Don’t forget to read the Important Sections in RBI Act

 

Regards

Team Exampundit