1.The Scheduled banks are registered under which act?
Answer. Second schedule of RBI Act, 1934
2.What is the minimuim reserve capital that all scheduled banks must maintain in the Reserve Bank of India?
Answer. 5 Lakh Rupees
3.On which date, RBI was established?
Answer. April 1, 1935
4.Who decides how much quantity of the coins to be minted?
Answer. Government of India
5.Which bank is known as the lender of last resort?
Answer. RBI
6.The method which is used currently in India to issue currency note is known as?
Answer. Minimum Reserve System
7.Under which , all commercial bank needs to maintain a certain amount in the form of cash, or gold or government approved securities (Bonds) before providing credit to its customers with themselves?
Answer. SLR (Statutory Liquidity Ratio)
8.Nationalisation of Imperial Bank of India and its conversion into State Bank of India was done in which year?
Answer. 1955
9.What are the components of Foreign Exchange Reserves?
Answer. Foreign currency assets, Gold, Special Drawing Rights & Reserve Position in the IMF
10.The bank branches are authorised to establish ___________ to stock small coins.
Answer. Small Coin Depots
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