True or false about the RBI Act

Exercise and reference answers

Questions

1. Statement is true

   No

   Statement

   Section 19 lets the Bank make ordinary loans.

2. Statement is true

   Yes

   Statement

   A scheduled bank is in the Second Schedule.

3. Statement is true

   No

   Statement

   Government cash balances earn the Bank interest.

4. Statement is true

   Yes

   Statement

   State business is taken up on agreement.

5. Statement is true

   Yes

   Statement

   Section 30 supersedes the Central Board.

6. Statement is true

   No

   Statement

   Regulations need no Government sanction.

Instructions

Decide whether each statement is true or false.

Explanation