RESERVE BANK OF INDIA
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Central Banking (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
In which year was the Reserve Bank of India established?
The Reserve Bank of India was established on April 1, 1935, under the Reserve Bank of India Act, 1934.
What is the full form of RBI?
Reserve Bank of India, India's central bank.
When was the Reserve Bank of India nationalised?
The RBI was nationalised on January 1, 1949, under the Reserve Bank of India (Transfer to Public Ownership) Act, 1948.
Under which Act was the Reserve Bank of India established?
Reserve Bank of India Act, 1934.
What is the primary objective of monetary policy as mandated to the RBI?
The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth, as enshrined in the amended RBI Act, 1934.
Where is the headquarters of the Reserve Bank of India located?
Mumbai, Maharashtra, India.
What is the inflation target set for the RBI under the flexible inflation targeting framework?
The RBI is mandated to maintain CPI inflation at 4% with a tolerance band of +/- 2%, i.e., between 2% and 6%.
What is the Reverse Repo Rate used by the RBI?
Rate at which RBI borrows money from commercial banks.
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