Monday, May 4, 2015

Day 19 - Questions

Day 19 - Issuance of Currency

( Issuance of Currency, Clean Note Policy, Soiled and Mutilated Notes )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  RBI has the legal right to issue bank notes, under which act?
a.  Coinage Act
b.  RBI Act
c.  Banking Regulation Act
d.  Companies Act

2.   Who is responsible for minting coins in India, and under which act?
a.  RBI, Coinage Act
b.  RBI, RBI Act
c.  Government of India, Coinage Act
d.  Government of India, Banking Regulation Act

3.  What is the maximum denomination of currency note that can be issued by RBI?
a.  Rs. 1,000
b.  Rs. 5,000
c.  Rs. 10,000
d.  Rs. 50,000

4.  Small Coins are -
a.  Coins with denominations of Re. 1
b.  Coins with denominations of more than Re. 1
c.  Coins with denominations of less that Re. 1
d.  None of the above

5.  One Rupee currency bears the signature of -
a.  Governor of RBI
b.  Finance Minister
c.  Finance Secretary
d.  President of India

6.  RBI currently follows which of the following system for issuance of currency?
a.  Proportional Reserve System
b.  Minimum Reserve System
c.  Maximum Reserve System
d.  None of the above

7.  Volume and value of banknotes to be printed each year is determined by -
i.  Requirement for meeting the demand of banknotes
ii.  GDP growth
iii.  Inflation rate
iv.  Replacement of Soiled and Mutilated Notes
v.  Reserve Stock requirements

a.  Only (i), (ii) and (iii)
b.  Only (i), (iii) and (iv)
c.  All except (ii)
d.  All (i to v)

8.  Which of the following place does not have a Printing Press?
a.  Nashik
b.  Dewas
c.  Kolkata
d.  Mysore

9.  Issue Offices of RBI are those places from where -
a.  RBI issues banknotes to the bank branches
b.  RBI issues coins to the bank branches
c.  Both (a) and (b)
d.  None of the above

10.  Currency Chests are -
a.  store houses of RBI for banknotes and rupee coins
b.  store houses of commercial banks for banknotes and rupee coins
c.  store houses of RBI for banknotes and small coins
d.  store houses of commercial banks for banknotes and small coins

11.  Small Coin Depots are -
a.  store houses of RBI for small coins
b.  store houses of RBI for banknotes
c.  store houses of commercial banks for small coins
d.  store houses of commercial banks for rupee coins

12.  Which of the followings are against Clean Note Policy of RBI?
a.  Stapling and/or writing on notes
b.  Banks not sorting notes into - Reissuables and Non-issuables - while issuing to public
c.  Issuing Soiled notes to public
d.  All of the above

13.  Which of the following is not a characteristic of a Soiled Note?
a.  slightly cut
b.  notes in two pieces, but the cut is not passed through the number panels
c.  notes in more than two pieces
d.  became dirty

14.  What is the full form of TLR?
a.  Triple Lock Reception
b.  Triple Lock Receptacle
c.  Two Lock Reception
d.  Two Lock Receptacle

15.  Excessively soiled, brittle or burnt notes can be exchanged on -
a.  Commercial bank branches
b.  Issue Office of RBI
c.  Commercial bank headquarters
d.  None of the above

Note - Do not refer any source while answering the questions. You can comment in the Comment Section below.

(Answers will be highlighted in the next day. Please visit the same question set in the following day to view the answers)

If you haven't registered yet, please register at this page - Study Plan Registration

If you like this site, please invite your friends and like / share / comment / feedback
Your active participation is needed!

Happy learning!

No comments:

Post a Comment