MCQ on RBI Act 1934

In this article, we are providing you MCQ on RBI Act 1934 which will help you to understand The RBI Act 1934 MCQ pdf with Answers multiple-choice questions MCQs on THE RESERVE BANK OF INDIA ACT, 1934

MCQ on RBI Act 1934

1) When did The RBI Act 1934, come into force?

A) 01 April 1935
B) 01 March 1934
C) 01 May 1934
D) 23 April 1935

Answer –A) 01 April 1935

2) Which section of The RBI Act 1934 deals with the Local Boards, their constitution, and functions?

A. Section 12 of The RBI Act 1934
B. Section 9 of The RBI Act 1934
C. Section 14 of The RBI Act 1934
D. Section 20 of The RBI Act 1934

Answer B. Section 9 of The RBI Act 1934

  1. Which section of The RBI Act 1934 deals with Business which the Bank may transact?

A. Section 16 of The RBI Act 1934
B. Section 14 of The RBI Act 1934
C. Section 17 of The RBI Act 1934
D. Section 18 of The RBI Act 1934

Answer – C. Section 17 of The RBI Act 1934

  1. Section 25 of The RBI Act 1934deals with_______?

A. Re-issue notes
B. Form of banknotes
C. Assets of the Issue Department
D. Obligation to supply different forms of currency

Ans- B. Form of banknotes

  1. Bank to have the right to transact Government business in India is provided in section____ of The RBI Act 1934

A. Section 24 of The RBI Act 1934
B. Section 22 of The RBI Act 1934
C. Section 21 of The RBI Act 1934
D. Section 23 of The RBI Act 1934

Ans- C. Section 21 of The RBI Act 1934

  1. Section 18 of The RBI Act 1934provides _?

A.Power of direct discount
B. Issue Department
C..Business which the Bank may transact
D. Right to issue banknotes

Ans – A.Power of direct discount

MCQ on The RBI Act 1934 with answers pdf

  1. Which section of The RBI Act 1934 deals with the Composition of the Central Board, and the term of office of Directors?

A. Section 7 of The RBI Act 1934
B. Section 4 of The RBI Act 1934
C. Section 8 of The RBI Act 1934
D. Section 9 of The RBI Act 1934

Answer – C. Section 8 of The RBI Act 1934

  1. Section 12 of The RBI Act 1934 deals with_______?

A. Casual vacancies and absences
B. Management
C. Definitions
D. Casual vacancies and absences

Ans-D. Casual vacancies and absences

9) Which section of The RBI Act 1934 deals with the Removal from and vacation of office?

A. Section 17 of The RBI Act 1934
B. Section 11 of The RBI Act 1934
C. Section 4 of The RBI Act 1934
D. Section 5 of The RBI Act 1934

Answer – B. Section 11 of The RBI Act 1934

10) Section 10 of The RBI Act 1934deals with_______?

A. Establishment and incorporation of Reserve Bank.
B.Meetings of the Central Board
C. Disqualifications of Directors and members of Local Boards
D. Capital of the Bank

Answer- C. Disqualifications of Directors and members of Local Boards

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