Q190. Which institution has responsibility for issuing India’s ordinary banknotes, other than the one-rupee note?
[WBCS Prelims 2021]
A. Ministry of Corporate Affairs
B. Prime Minister’s Office
C. Reserve Bank of India
D. Election Commission
Answer: (C) Reserve Bank of India
Explanation: The RBI has the statutory banknote-issue role, with an exception for the one-rupee government-issued note. Physical printing is carried out at authorised presses, distinguishing currency issuance responsibility from printing operations.
Q189. Which chronological order of RBI Governors is correct:
I. C. Rangarajan,
II. I. G. Patel,
III. D. Subbarao,
IV. Manmohan Singh?
[UPPSC RO/ARO, 5 Dec 2021]
A. IV–II–III–I
B. II–IV–I–III
C. IV–I–II–III
D. II–I–IV–III
Answer: (B) II–IV–I–III
Explanation: I. G. Patel served from 1977 to 1982, followed by Manmohan Singh from 1982 to 1985. C. Rangarajan later served from 1992 to 1997, while D. Subbarao assumed office in 2008.
Q188. Which Union ministry publishes India’s Wholesale Price Index rather than the RBI?
[UPPSC Civil Services Paper 1, 24 Oct 2021]
A. Reserve Bank of India
B. Ministry of Commerce and Industry
C. Ministry of Finance
D. Ministry of Consumer Affairs
Answer: (B) Ministry of Commerce and Industry
Explanation: The Office of Economic Adviser in the Ministry of Commerce and Industry compiles and releases the Wholesale Price Index. RBI uses various price indicators for economic analysis but does not itself publish the official WPI series.
Q187. What is the oldest stock exchange in India?
[SSC MTS (2020 cycle), 8 Oct Shift 1 2021]
A. Calcutta Stock Exchange
B. National Stock Exchange
C. Delhi Stock Exchange
D. Bombay Stock Exchange
Answer: (D) Bombay Stock Exchange
Explanation: The Bombay Stock Exchange traces its origin to 1875, making it the oldest recognised stock exchange in India and Asia. The National Stock Exchange commenced operations much later, in the 1990s.
Q186. Among Asian stock exchanges, where does the Bombay Stock Exchange rank historically by date of establishment?
[SSC MTS (2020 cycle), 2 Nov Shift 1 2021]
A. First
B. Second
C. Fourth
D. Third
Answer: (A) First
Explanation: The Bombay Stock Exchange is historically the oldest stock exchange in Asia. It grew out of organised securities brokerage in nineteenth-century Bombay and now operates regulated trading and market infrastructure.
Q185. In which year did the Reserve Bank of India commence its operations?
[SSC MTS (2020 cycle), 11 Oct Shift 2 2021]
A. 1935
B. 1947
C. 1932
D. 1942
Answer: (A) 1935
Explanation: RBI began functioning on 1 April 1935 under the Reserve Bank of India Act, 1934. It was initially privately owned and became a government-owned central bank in January 1949.
Q184. Which statement about the RBI’s establishment is historically incorrect?
[SSC MTS (2020 cycle), 5 Oct Shift 1 2021]
A. The RBI started operations in 1935
B. The Central Banking Enquiry Committee examined the central-bank proposal in 1931
C. The Hilton Young Commission recommended RBI establishment in 1929
D. The RBI Act was enacted in 1934
Answer: (C) The Hilton Young Commission recommended RBI establishment in 1929
Explanation: The Hilton Young Commission recommended establishing a central bank in 1926, not 1929. The Reserve Bank of India Act followed in 1934 and the institution commenced operations in 1935.
Q183. When did the RBI become a nationalised central bank?
[SSC MTS (2020 cycle), 2 Nov Shift 3 2021]
A. 1935
B. 1949
C. 1927
D. 1965
Answer: (B) 1949
Explanation: The RBI was nationalised with effect from 1 January 1949 under the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. Before this conversion it had originally been constituted with private ownership.
Q182. Until April 1947, India’s Reserve Bank also acted as the central bank of which territory?
[SSC MTS (2020 cycle), 22 Oct Shift 1 2021]
A. Burma
B. Nepal
C. Bhutan
D. Sri Lanka
Answer: (A) Burma
Explanation: RBI performed central-banking functions for Burma, now Myanmar, for a period after Burma separated from British India. That historical arrangement ended in April 1947; it is distinct from RBI service to Pakistan after Partition.
Q181. Which item is not an instrument in the RBI monetary-policy toolkit?
[SSC MTS (2020 cycle), 20 Oct Shift 3 2021]
A. Goods and Services Tax
B. Liquidity Adjustment Facility
C. Cash Reserve Ratio
D. Repo rate
Answer: (A) Goods and Services Tax
Explanation: GST is an indirect tax and part of fiscal legislation, not an RBI monetary instrument. In contrast, central-bank liquidity operations, reserve requirements and policy interest rates affect money and credit conditions.
