RBI GK Questions 2020 – Important Questions on Indian Economy

Reserve Bank of India issues the guidelines for the public sector and private sector banks in India. It is the authority controlling all the monetary transactions in India. The RBI Grade B exam is one of the recruitment conducted by RBI every year. In this article practice, the GK questions on the Indian Economy.

The notification for the RBI Grade B exam is expected to release soon. The selection procedure consists of Phase I, II, and Interview. Phase I and II will be a computer-based test. Phase I have a General Awareness section and Phase II of the RBI exam consists of the Economic and Social Issues topics. The practice of these questions will be helpful for both these sections.

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RBI GK Questions – Indian Economy

Attempt the following GK Questions based on the Indian Economy, and boost your preparations.

1. In which year Reserve Bank of India was nationalized?

A) 1950

B) 1949

C) 1948

D) 1954

2. Which words are not used in the Monetary Policy?

A) Cash reserve ratio

B) Repo Rate

C) Bank rate

D) Blue chip

3. Which of the following is not included in 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

4. Who is in charge of issuings one rupee coins in India?

A) RBI

B) Nationalized banks

C) Ministry of Finance, GOI

D) None of the above

5. The census in India is done after in every

A) 8 years

B) 10 years

C) 5 years

D) 12 years

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6. The Credit Policy of India declared by?

A) Reserve Bank of India

B) President of India

C) Finance Minister

D) NABARD

7. The time period of the 10th Plan in India was

A) 2000-2005

B) 2002-2007

C) 2001-2006

D) 2003-2008

8. Choose the correct subsidiaries of the State Bank of India?

A) State Bank of Bikaner and Jaipur, State Bank of Hyderabad

B) State Bank of Indore, State bank of Mysore, State Bank of Travancore

C) State Bank of Patiala, State Bank of Saurashtra

D) All the above

9. The first public sector corporation in independent India was 

A) Food Corporation of India

B) Damodar Valley Corporation

C) Indian Telephone Industries

D) Cochin Shipyard

10. During which plan, the NABARD was established

A) Fourth plan

B) Fifth plan

C) Eighth plan

D) Sixth plan

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11. The cause of inflation is

A) Increase in the supply of goods

B) Increase in the money supply

C) A decrease in the money supply

D) A decrease in the supply of goods

12. Which is the Government term for the reserve requirement that commercial banks are required to maintain in the form of cash, gold reserves, Reserve Bank of India (RBI)- approved securities before providing credit to the customers?

A) Statutory Liquidity Ratio

B) Minimum Reserve Ratio

C) Cash Reserve Ratio

D) Floating Reserve Ratio

13. Choose the correct statement about the chairperson of the Monetary Policy Committee (MPC)?

A) Finance Minister is the ex-officio chairperson of the committee

B) Chairperson of the committee is appointed by the RBI Governor

C) RBI Governor is the ex officio Chairperson of the committee

D) The Chairperson of the committee is appointed by the Finance Minister

14. India is called a mixed economy because of the existence of

1)Public Sector

2)Private Sector

3)Joint Sector

4)Cooperative Sector

A) 1, 4

B) 1, 2

C) 3, 4

D) 2, 4

15. “Zero Base Budgeting” is called?

A) Infinite deficit financing

B) Preparation of a new budget every time

C) No curtailment in unproductive expenditure.

D) No appraisal of new programs

Check Related Articles:

• Banking Awareness Quiz for all Bank Exams 2020.
• Download and practice RBI Grade B previous year questions papers.
• Check RBI Grade B Interview Questions.

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