1. Proportional Reserve System was replaced in 1956 by Minimum of Foreign Reserve System. It means....
1) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 115 Cr. of gold and Rs. 400 Cr. of foreign securities must be maintained.
2) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 115 Cr. of gold and Rs. 400 Cr. Dollars must be maintained.
3) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 400 Cr. of gold and Rs. 115 Cr. of foreign securities must be maintained.
4) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 200 Cr. of gold and Rs. 315 Cr. of foreign direct investments.
5) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in any mode.
2. 1956 Minimum of Foreign Reserve System of RBI was diluted in 1957. It says .....
1) RBI should maintain Rs. 115 crore worth of Gold.
2) RBI should maintain Rs. 150 crore worth of Gold and Rs. 450 Cr. worth of Government bonds.
3) RBI should maintain Rs. 1000 Cr. worth of Gold or Rs. 1000 crore worth of Government securities.
4) RBI should maintain Rs. 100 Cr. worth of Gold or Rs. 1000 crore worth of foreign securities.
5) RBI need not maintain any worth of Gold or Government securities.
3. Currency paper is composed of ......
1) Flax seed pulp
2) Soya seed pulp
3) Cotton and cotton rag
4) Jute
5) None
4. Who determines the denominations of Paper currency?
1) RBI
2) Ministry of Commerce
3) Government of India
4) Deputy Governor
5) None of above
5. To cancel the disadvantages of Paper Currency Plastic currency mooted. Which is the first country to mint Plastic money?
1) India
2) New Zealand
3) China
4) Spain
5) Australia
6. India moots to mint ........ rupee plastic money first?
1) 5
2) 2
3) 100
4) 10
5) 500
7. In the five cities/ towns, the Rs. 10 plastic paper currency to be introduced for the valuation of up to Rs. 100 crores. They are Kochi, Mysore, Bhubaneswar, Jaipur and....
1) New Delhi
2) Hyderabad
3) Visakhapatnam
4) Shimla
5) Pune
8.Virtual Currency is .....
1) coins
2) Bit coin
3) Rs. 1000 currency note
4) Rs. 1 coin
5) None
9. Bit coin invented by ........
1) John Shepherd - Barron
2) Satoshi Nakamoto
3) Tim Berners-Lee
4) Charles Babbage
5) None of above
10. Who has the sole right to mint coins in India?
1) RBI
2) MMTC
3) Government of India
4) SBI
5) Department of Post
11. Whose signature appears on coins?
1) President of India
2) RBI Governor
3) Finance Secretary
4) RBI Deputy Governor
5) Coins do not bear the signature
12. Whether all banks accept coins in India though mint by government of India?
1) accept by asking the customer give the undertaking
2) Never accept
3) Yes, accept
4) Accept, tell the customer that the bank return any time
5) Accept at the lower value
13. Which rupee coin has largest circulation in India?
1) 2
2) 5
3) 1
4) 10
5) None
14. Which committee suggested for the high denomination of Coins in Indian Circulation?
1) C. Rangarajan
2) Bimal Jalan
3) Tarapore
4) Chandulal
5) Malegam
15. Maximum punishment for melting or destruction of coins would be increased from 5 years to ..... years of imprisonment?
1) 4
2) 9
3) 7
4) 10
5) 16
16. Coins in India are presently being issued for the circulation in denominations of 50 paise, one rupee, two rupees, five rupees and ...
1) two hundred rupees
2) hundred rupees
3) ten rupees
4) twenty rupees
5) None
17. Familiar metal using to mint coins of India these days is.....
1) Stainless Steel
2) Gold
3) Silver
4) Copper
5) Brass
18. ......... become the 19th country to adopt Euro as a Single currency from 1 January 2015?
1) Croatia
2) Lithuania
3) Latvia
4) Mexico
5) South Sudan
ANSWERS:
1-1, 2-1, 3-3, 4-3, 5-5, 6-4, 7-4, 8-2, 9-2, 10-3
11-5, 12-3, 13-3, 14-3, 15-3, 16-3, 17-1, 18-2
1) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 115 Cr. of gold and Rs. 400 Cr. of foreign securities must be maintained.
2) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 115 Cr. of gold and Rs. 400 Cr. Dollars must be maintained.
3) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 400 Cr. of gold and Rs. 115 Cr. of foreign securities must be maintained.
4) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in which Rs. 200 Cr. of gold and Rs. 315 Cr. of foreign direct investments.
5) RBI to hold assets minimum of Rs. 515 crores worth of foreign reserves in any mode.
2. 1956 Minimum of Foreign Reserve System of RBI was diluted in 1957. It says .....
1) RBI should maintain Rs. 115 crore worth of Gold.
2) RBI should maintain Rs. 150 crore worth of Gold and Rs. 450 Cr. worth of Government bonds.
3) RBI should maintain Rs. 1000 Cr. worth of Gold or Rs. 1000 crore worth of Government securities.
4) RBI should maintain Rs. 100 Cr. worth of Gold or Rs. 1000 crore worth of foreign securities.
5) RBI need not maintain any worth of Gold or Government securities.
3. Currency paper is composed of ......
1) Flax seed pulp
2) Soya seed pulp
3) Cotton and cotton rag
4) Jute
5) None
4. Who determines the denominations of Paper currency?
1) RBI
2) Ministry of Commerce
3) Government of India
4) Deputy Governor
5) None of above
5. To cancel the disadvantages of Paper Currency Plastic currency mooted. Which is the first country to mint Plastic money?
1) India
2) New Zealand
3) China
4) Spain
5) Australia
6. India moots to mint ........ rupee plastic money first?
1) 5
2) 2
3) 100
4) 10
5) 500
7. In the five cities/ towns, the Rs. 10 plastic paper currency to be introduced for the valuation of up to Rs. 100 crores. They are Kochi, Mysore, Bhubaneswar, Jaipur and....
1) New Delhi
2) Hyderabad
3) Visakhapatnam
4) Shimla
5) Pune
8.Virtual Currency is .....
1) coins
2) Bit coin
3) Rs. 1000 currency note
4) Rs. 1 coin
5) None
9. Bit coin invented by ........
1) John Shepherd - Barron
2) Satoshi Nakamoto
3) Tim Berners-Lee
4) Charles Babbage
5) None of above
10. Who has the sole right to mint coins in India?
1) RBI
2) MMTC
3) Government of India
4) SBI
5) Department of Post
11. Whose signature appears on coins?
1) President of India
2) RBI Governor
3) Finance Secretary
4) RBI Deputy Governor
5) Coins do not bear the signature
12. Whether all banks accept coins in India though mint by government of India?
1) accept by asking the customer give the undertaking
2) Never accept
3) Yes, accept
4) Accept, tell the customer that the bank return any time
5) Accept at the lower value
13. Which rupee coin has largest circulation in India?
1) 2
2) 5
3) 1
4) 10
5) None
14. Which committee suggested for the high denomination of Coins in Indian Circulation?
1) C. Rangarajan
2) Bimal Jalan
3) Tarapore
4) Chandulal
5) Malegam
15. Maximum punishment for melting or destruction of coins would be increased from 5 years to ..... years of imprisonment?
1) 4
2) 9
3) 7
4) 10
5) 16
16. Coins in India are presently being issued for the circulation in denominations of 50 paise, one rupee, two rupees, five rupees and ...
1) two hundred rupees
2) hundred rupees
3) ten rupees
4) twenty rupees
5) None
17. Familiar metal using to mint coins of India these days is.....
1) Stainless Steel
2) Gold
3) Silver
4) Copper
5) Brass
18. ......... become the 19th country to adopt Euro as a Single currency from 1 January 2015?
1) Croatia
2) Lithuania
3) Latvia
4) Mexico
5) South Sudan
ANSWERS:
1-1, 2-1, 3-3, 4-3, 5-5, 6-4, 7-4, 8-2, 9-2, 10-3
11-5, 12-3, 13-3, 14-3, 15-3, 16-3, 17-1, 18-2
