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CS Executive Reserve Bank of India Act, 1934 — practice questions

Explore 1 free Reserve Bank of India Act, 1934 questions in CS Executive Ebcl. Open each question or exercise to read its content, reference answers and available explanation.

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Reserve Bank of India Act, 1934 questions and exercises with answers

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Rule on these claims about moneyRead the answer and worked solution →

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Rule on these claims about money

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Questions
  1. Statement is true
    Yes
    Statement
    The Reserve Bank began operations on 1 April 1935.
  2. Statement is true
    No
    Statement
    Rupee coins are minted under the Reserve Bank of India Act.
  3. Statement is true
    Yes
    Statement
    Notes above ten thousand rupees cannot be issued.
  4. Statement is true
    Yes
    Statement
    Fifty paisa coins settle any sum up to ten rupees.
  5. Statement is true
    No
    Statement
    Rupee coins are legal tender only up to one hundred rupees.
  6. Statement is true
    Yes
    Statement
    The five hundred and one thousand rupee notes went in November 2016.
  7. Statement is true
    No
    Statement
    A finance company may lend before the Reserve Bank registers it.
Instructions
Tap true or false for each claim about bank notes, coins and the Reserve Bank.
_Source: ICSI CS Executive Paper 7 (Economic, Business and Commercial Laws) — Lesson 1: Reserve Bank of India Act, 1934, pp. 8-21._

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