Question

state a currency affairs Gk question related to india​

Answer 1

1. In which year (prior to 2016) were the high value currency notes demonetized?

1978

1977

1976

1979

2. The headquarters of European Central Bank which administers the currency Euro are in –

Paris

Frankfurt

London

Geneva

3. The rate at which the Reserve Bank of India lends money to commercial banks is known as –

Repo Rate

Base Rate

Bank Rate

Reverse Repo Rate

4. The new 2000 rupee note has the image of -

INS Vikramaditya

Mangalyaan

Red Fort

Thiruvalluvar

5. Where in Karnataka is RBI's Note Press located?

Mysore

Mangalore

Kalaburagi

Dharwad

6. Which of the following was merged with SBI before 2017?

State Bank of Mysore

State Bank of Indore

State Bank of Hyderabad

State Bank of Patiala

7. The rate at which RBI borrows money from banks is known as –

Bank rate

Repo rate

Reverse Repo rate

Base rate

8. What is the minimum limit for an RTGS transaction?

Rs. 10,000

Rs. 20,000

Rs. 1,00,000

Rs. 2,00,000

9. National Institute of Bank Management is located in

Mumbai

New Delhi

Chandigarh

Pune

10. In which year was the decimal system of currency introduced in India?

1955

1957

1961

1963

Thanks

Answer 2

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1. On which commission’s recommendations; Reserve Bank of India was established?

(a) Chamberlain Commission

(b) Hilton Young Commission

(c) Keynes Commission

(d) None of the above

Answer b

Explanation: RBI was established on 1 April 1935, based on recommendations of Hilton Young Commission.

2. Which of the following is not the work of RBI?

(a) Bank of the banks

(b) Credit controller

(c) Custodian of foreign currency

(d) Allocating funds directly to the farmers for agricultural development

Answer: d

Explanation: RBI allocates funds to NABARD for agricultural development. NABARD further allocates funds to farmers for agricultural development through rural banks and commercial banks.

3. Who mints the coins in India?

(a) Ministry of Finance

(b) Reserve Bank of India

(c) Prime Minister's Office

(d) Commerce and Industry Ministry

Answer: a

Explanation: In India, the RBI is responsible for the printing of currency notes, while the work of printing one rupee note and all the minting of coins is done by the Finance Ministry.

4. When was R.B.I. nationalised?

(a) 1935

(b) 1949

(c) 1929

(d) 1914

Answer: b

Explanation: The Reserve Bank of India was established on April 1, 1935 with a capital of 5 cr. rupees and nationalised in 1 January 1949.

5. Who was the first governor of Reserve Bank of India from Indian origin?

(a) Osborne Smith

(b) C. Rajagopalachari

(c) L. K. Jha

(d) C.D. Deshmukh

Answer d

Explanation: The first Indian-origin governor of the Reserve Bank of India was C.D. Deshmukh while very first Governor of RBI was Osborne Smith, an Englishman.

6. How long does the accounting year of the Reserve Bank of India come from?

(a) 1st July to 1st June

(b) 1st April to 30th March

(c) 1st July to 30th June

(d) January 1 to December 31

Answer: c

Explanation: The accounting year of the Reserve Bank of India is between 1 July and 30 June, while the country's financial year is between 1 April and 30 March.

7. Which of the following words is not used in Monetary Policy?

(a) Cash reserve ratio

(b) Repo Rate

(c) Bank rate

(d) Blue chip

Answer: d

Explanation: The term blue chip is not related to monetary policy. Blue chip is an adjective given to a company which provides assured profit.