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IBPS RRB Officer Scale 1 RBI Act & BR Act — practice questions — page 3

Explore 73 free RBI Act & BR Act questions in IBPS RRB Officer Scale 1 Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

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RBI Act & BR Act questions and exercises with answers

Showing questions 61–73 of 73.

Which section governs transactions in foreign exchange?Read the answer and worked solution →Which section provides for the appointment of agents?Read the answer and worked solution →Section 45Z provides that its Chapter shall do what to other provisions?Read the answer and worked solution →Which section requires publication of a consolidated statement?Read the answer and worked solution →Which section gives the Bank power of direct discount?Read the answer and worked solution →Match each section to what it doesRead the answer and worked solution →May the Bank do it, or not?Read the answer and worked solution →Sort each section by its chapterRead the answer and worked solution →True or false about the RBI ActRead the answer and worked solution →Fill the gaps in the RBI ActRead the answer and worked solution →Order the sections as they appearRead the answer and worked solution →Spot the one that does not fitRead the answer and worked solution →Pick the right section, quicklyRead the answer and worked solution →

Worked practice questions

Which section governs transactions in foreign exchange?

  1. Section 90
  2. Section 60
  3. Section 70
  4. Section 40
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Correct answer: D. Section 40

1. It follows the currency supply obligation. 2. It precedes the cash reserve provision. 3. It is section 40. _Source: The Reserve Bank of India Act, 1934 (India Code)_

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Which section provides for the appointment of agents?

  1. Section 45
  2. Section 85
  3. Section 65
  4. Section 75
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Correct answer: A. Section 45

1. It closes the central banking functions chapter. 2. It comes just before the credit information chapter. 3. It is section 45. _Source: The Reserve Bank of India Act, 1934 (India Code)_

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Section 45Z provides that its Chapter shall do what to other provisions?

  1. Overtake them
  2. Override them
  3. Overlook them
  4. Overturn them
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Correct answer: B. Override them

1. Section 45Z heads the monetary policy framework. 2. That framework sets an inflation target and a committee. 3. It overrides other provisions of the Act. _Source: The Reserve Bank of India Act, 1934 (India Code)_

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