RBI, Bank Rate, Credit - Banking awareness questions on current affairs

1)   The Reserve Bank of India will transfer its surplus profit of 65,896 crore rupees to the Centre. This amount is ___ percent higher than previous year.

a. 5%
b. 19%
c. 25%
d. 33%
Answer  Explanation 

ANSWER: 25%

Explanation:
Last year, the apex bank had transferred 52,679 crore rupees of its surplus profit to the Government.
2)   As per the notification by Reserve Bank of India (RBI) on 6th Aug’15, in which areas the banks are allowed to shift, merge or close branches without seeking its prior permission?

a. Urban Areas
b. Rural Areas
c. Semi-Rural Areas
d. Semi-Urban Areas
Answer  Explanation 

ANSWER: Urban Areas

Explanation:
In a notification on its website, RBI said banks can “shift, merge or close all branches except rural branches and sole semi-urban branches at their discretion”. Shifting, merging or closing a branch in a rural area or a sole branch in a semi-urban area would, however, continue to require prior permission from RBI.
3)   Who was the first governor of RBI?

a. James Braid Taylor
b. Mihir Sen
c. Nagendra Singh
d. Osborne Smith
Answer  Explanation 

ANSWER: Osborne Smith

Explanation:
Osborne Smith was the Governor of Reserve Bank of India from 1 April 1935 to 30 June 1937.
4)   What does RBI regulate through Open Market Operation Transactions?

a. Flow of Foreign Direct Investment
b. Borrowing powers of the banks
c. Inflation
d. Liquidity in economy
Answer  Explanation 

ANSWER: Liquidity in economy

Explanation:
Outright purchase and Repurchase agreement are the two traditional type of OMO's used by RBI.

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