Q240. Which statutory regulator principally oversees Indian mutual funds?
[WBCS Mains 2022]
A. Reserve Bank of India
B. SEBI
C. Individual stock exchanges alone
D. Only commercial banks
Answer: (B) SEBI
Explanation: SEBI establishes registration, conduct and disclosure requirements for mutual funds and their asset-management arrangements. RBI regulates banking and monetary policy, although banking institutions may distribute mutual fund products under applicable rules.
Q239. The 2020 amendment to which core law strengthened RBI oversight of cooperative banking institutions?
[RRB Group D, 14 Sep, Shift 3 2022]
A. Companies Act 1956
B. Securities Contracts Regulation Act
C. Banking Regulation Act 1949
D. Indian Stamp Act
Answer: (C) Banking Regulation Act 1949
Explanation: The Banking Regulation (Amendment) Act, 2020 modified the 1949 banking law and strengthened regulatory provisions for certain cooperative banks. The changes concerned governance and supervision while retaining specified statutory exclusions.
Q238. Under Indian banking regulations, who sets the Cash Reserve Ratio?
[RRB Group D, 9 Sep, Shift 1 2022]
A. The RBI
B. SEBI
C. The Ministry of Commerce
D. Stock exchange clearing members
Answer: (A) The RBI
Explanation: The central bank prescribes CRR under the monetary and banking framework. CRR requires banks to maintain a designated share of qualifying liabilities as cash balances with RBI, affecting deployable liquidity.
Q237. Which combination of long-term policies can address supply-driven inflation?
[MPSC Rajyaseva GS I 2022]
A. Changing production patterns, calibrated imports, transport and storage infrastructure
B. Only reducing warehouse capacity
C. Only extending short-term consumer loans
D. Only increasing customs documentation
Answer: (A) Changing production patterns, calibrated imports, transport and storage infrastructure
Explanation: Supply-side inflation may be eased by improving production, transport and storage and adjusting import policy. Unlike demand suppression alone, these structural measures can increase availability and reduce distribution bottlenecks in essential commodities.
Q236. Which Indian bank first established an office in Australia’s Victoria state, according to the MPSC paper?
[MPSC Rajyaseva GS I 2022]
A. Dena Bank
B. State Bank of India
C. Bank of Baroda
D. Punjab National Bank
Answer: (B) State Bank of India
Explanation: State Bank of India developed an overseas presence in Australia and was identified in the paper as the first Indian bank with an office in Victoria. Overseas branches support international transactions and banking services for clients.
Q235. What is the full form of the principal securities-market regulator SEBI?
[WBCS Prelims 2022]
A. State Earnings Board of India
B. Securities and Exchange Bank of India
C. Securities and Exchange Board of India
D. State Exchange Banking Institution
Answer: (C) Securities and Exchange Board of India
Explanation: SEBI is the Securities and Exchange Board of India. It became a statutory authority in 1992 after being established in 1988 and oversees market intermediaries and investor-protection requirements.
Q234. Under RBI microfinance rules introduced in March 2022, what maximum annual household income was used for eligibility?
[RRB Group D, 19 Sep Shift 3 2022]
A. ₹4 lakh
B. ₹3 lakh
C. ₹3.5 lakh
D. ₹3.25 lakh
Answer: (B) ₹3 lakh
Explanation: The harmonised RBI microfinance regulations issued in March 2022 used an annual household income ceiling of three lakh rupees to define a microfinance loan. The rules also strengthened transparent pricing and assessment of repayment obligations.
Q233. Which institution performs central credit-control functions in India?
[RRB Group D, 12 Sep Shift 3 2022]
A. NITI Aayog
B. Ministry of Finance
C. Reserve Bank of India
D. Ministry of Education
Answer: (C) Reserve Bank of India
Explanation: RBI influences credit supply and banking liquidity through monetary-policy and regulatory instruments, including policy rates, reserve requirements and market operations. Other public authorities do not perform the central bank’s ordinary credit-control function.
Q232. Which functions belong to RBI:
A. issuing banknotes,
B. using monetary-policy instruments,
C. banking for government,
D. taking ordinary retail deposits and making household loans?
[RRB Group D, 19 Sep Shift 2 2022]
A. A, B and C
B. B, C and D
C. A, C and D
D. A, B and D
Answer: (A) A, B and C
Explanation: RBI issues banknotes, conducts monetary policy and acts as banker to government. Providing standard retail savings accounts and lending to ordinary customers are principally functions of commercial banks, not its central-bank role.
Q231. How many Deputy Governors were envisaged in the standard RBI leadership structure as of June 2022?
[RRB Group D, 20 Sep Shift 3 2022]
A. Four
B. One
C. Three
D. Two
Answer: (A) Four
Explanation: The Reserve Bank of India Act provides a Governor supported by up to four Deputy Governors. These senior executives oversee major functional areas and assist in governance and operations of the central bank.
