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EPFO Officer RBI Basics — practice questions

Explore 3 free RBI Basics questions in EPFO Officer Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

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RBI Basics questions and exercises with answers

Showing questions 1–3 of 3.

Match each RBI role to its meaningRead the answer and worked solution →True or false: the Reserve BankRead the answer and worked solution →Fill in the central bankRead the answer and worked solution →

Worked practice questions

Match each RBI role to its meaning

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Matching pairs
  1. Left
    Issuer of currency
    Right
    Only body that can issue the country's notes
  2. Left
    Banker to govt
    Right
    Keeps the government's accounts and bonds
  3. Left
    Custodian of forex
    Right
    Holds the foreign exchange reserves
  4. Left
    Bank to the banks
    Right
    Holds reserves for commercial banks
  5. Left
    Last resort lender
    Right
    Stands ready to lend to banks at all times
Instructions
Tap a role on the left, then tap what it means.
_Source: syllabus Macroeconomics XII Ch3 Money and Banking, 3.2 DEMAND FOR MONEY AND SUPPLY OF MONEY_

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True or false: the Reserve Bank

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Questions
  1. Statement is true
    Yes
    Statement
    The Reserve Bank is the only institution which can issue currency.
  2. Statement is true
    No
    Statement
    Commercial banks issue their own currency notes.
  3. Statement is true
    Yes
    Statement
    The Reserve Bank acts as a banker to the government.
  4. Statement is true
    Yes
    Statement
    The Reserve Bank decides the percentage of deposits banks must keep as reserves.
Instructions
Decide whether each statement about the Reserve Bank is true or false.
_Source: syllabus Macroeconomics XII Ch3 Money and Banking, 3.4 POLICY TOOLS TO CONTROL MONEY SUPPLY_

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Fill in the central bank

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Missing parts
  1. Answer
    1935
    Choices
    1. 1935
    2. 1949
    3. 1961
  2. Answer
    last
    Choices
    1. last
    2. first
    3. final
Complete the statement
India got its central bank in {0}. Because it stands ready to lend to banks at all times it is called the lender of {1} resort.
Instructions
Fill each blank to complete the description of the central bank.
_Source: syllabus Macroeconomics XII Ch3 Money and Banking, 3.2 DEMAND FOR MONEY AND SUPPLY OF MONEY_

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More Banking Awareness topics

Negotiable Instruments ActAbbreviationsAlphanumeric SeriesAwardsBanker-Customer RelationshipBasel Norms & CapitalBooks & AuthorsColonial India