🏦 List of RBI Governors (1947–2025)
1. C. D. Deshmukh (1943–1949)
2. Benegal Rama Rau (1949–1957)
3. K. G. Ambegaonkar (1957)
4. H. V. R. Iengar (1957–1962)
5. P. C. Bhattacharya (1962–1967)
6. L. K. Jha (1967–1970)
7. B. N. Adarkar (1970)
8. S. Jagannathan (1970–1975)
9. N. C. Sen Gupta (1975)
10. K. R. Puri (1975–1977)
11. M. Narasimham (1977)
12. I. G. Patel (1977–1982)
13. Manmohan Singh (1982–1985)
14. Amitav Ghosh (1985)
15. R. N. Malhotra (1985–1990)
16. S. Venkitaramanan (1990–1992)
17. C. Rangarajan (1992–1997)
18. Bimal Jalan (1997–2003)
19. Y. V. Reddy (2003–2008)
20. D. Subbarao (2008–2013)
21. Raghuram Rajan (2013–2016)
22. Urjit Patel (2016–2018)
23. Shaktikanta Das (2018–2024)
24. Sanjay Malhotra (2024–Present)
50 Multiple Choice Questions (MCQs) with answers on the Reserve Bank of India (RBI) — perfect for competitive exams, current affairs quizzes.
🏦 Reserve Bank of India (RBI) — Full Description
The Reserve Bank of India (RBI) is the central bank of India, established on April 1, 1935, under the Reserve Bank of India Act, 1934.
It is responsible for regulating the issue and supply of the Indian rupee, maintaining monetary stability, and overseeing the country’s financial system.
Initially, RBI was privately owned, but it was nationalized in 1949.
The Governor of the RBI is the chief executive who implements policies formulated by the Central Board of Directors.
RBI’s headquarters are in Mumbai, Maharashtra.
The bank also has regional offices in Delhi, Kolkata, Chennai, and Nagpur.
🔹 Key Functions:
1. Issue of currency notes
3. Regulation of banks and NBFCs
4. Management of foreign exchange (under FEMA 1999)
5. Custodian of foreign reserves
6. Developmental role — promoting financial inclusion and digital payment systems.
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🧠 50 MCQs on RBI with Answers
1. The Reserve Bank of India was established in which year?
A) 1934
B) 1935
C) 1947
D) 1949
👉 Answer: B) 1935
2. RBI was nationalized in which year?
A) 1947
B) 1948
C) 1949
D) 1950
👉 Answer: C) 1949
3. Where is the headquarters of the Reserve Bank of India?
A) Kolkata
B) New Delhi
C) Mumbai
D) Chennai
👉 Answer: C) Mumbai
4. Who is the current Governor of RBI (as of 2025)?
A) Shaktikanta Das
B) Urjit Patel
C) Sanjay Malhotra
D) Raghuram Rajan
👉 Answer: C) Sanjay Malhotra
5. Which Act governs the functioning of the Reserve Bank of India?
B) RBI Act, 1934
C) Companies Act, 1956
D) FEMA Act, 1999
👉 Answer: B) RBI Act, 1934
6. Who appoints the Governor of RBI?
A) Parliament
B) President of India
C) Prime Minister
D) Finance Minister
👉 Answer: B) President of India
7. The main function of the RBI is to:
A) Issue coins
B) Regulate money supply and credit
C) Fix income tax rates
D) Control exports and imports
👉 Answer: B) Regulate money supply and credit
8. Which of the following is NOT a function of RBI?
A) Issuing currency
B) Lender of last resort
C) Collection of direct taxes
D) Control of credit
👉 Answer: C) Collection of direct taxes
9. Which department of RBI controls the monetary policy?
A) Monetary Policy Committee (MPC)
B) Economic Department
C) Finance Department
D) Central Board
👉 Answer: A) Monetary Policy Committee (MPC)
10. How many members are there in the Monetary Policy Committee (MPC)?
A) 3
B) 5
C) 6
D) 7
👉 Answer: C) 6
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11. The currency notes are issued under which section of the RBI Act, 1934?
A) Section 20
B) Section 22
C) Section 24
D) Section 25
👉 Answer: B) Section 22
12. The RBI issues currency notes against:
A) Gold reserves only
B) Government securities, gold, and foreign securities
C) Silver reserves
D) Treasury Bills only
👉 Answer: B) Government securities, gold, and foreign securities
13. Who was the first Indian Governor of the RBI?
A) Sir Osborne Smith
B) C. D. Deshmukh
C) Benegal Rama Rau
D) K. R. Puri
👉 Answer: B) C. D. Deshmukh
14. RBI’s emblem features a:
A) Tiger and Palm tree
B) Lion and Palm tree
C) Tiger and Banyan tree
D) Elephant and Palm tree
👉 Answer: A) Tiger and Palm tree
15. Which of the following is the lender of last resort?
A) SBI
B) NABARD
C) RBI
D) IMF
👉 Answer: C) RBI
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16. Which Act replaced FERA with FEMA in 1999?
A) Finance Act
B) Foreign Exchange Management Act
C) Money Laundering Act
D) RBI Act
👉 Answer: B) Foreign Exchange Management Act
17. Which body decides the Repo and Reverse Repo rates?
A) SEBI
B) RBI
C) Ministry of Finance
D) NABARD
👉 Answer: B) RBI
18. What is the current tenure of the RBI Governor?
A) 2 years
B) 3 years
C) 4 years
D) 5 years
👉 Answer: C) 4 years
19. Who was the first Governor of the RBI?
A) Osborne Smith
B) C. D. Deshmukh
C) R. N. Malhotra
D) Benegal Rama Rau
👉 Answer: A) Osborne Smith
20. When was the RBI’s headquarters moved from Kolkata to Mumbai?
A) 1936
B) 1937
C) 1949
D) 1952
👉 Answer: B) 1937
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21. Which committee recommended the establishment of RBI?
B) Narasimham Committee
C) Malhotra Committee
D) Rangarajan Committee
👉 Answer: A) Hilton Young Commission
22. RBI regulates which of the following?
A) Commercial Banks
B) Co-operative Banks
C) NBFCs
D) All of the above
👉 Answer: D) All of the above
23. Which of the following tools is NOT used by RBI for credit control?
A) CRR
B) Repo Rate
C) Reverse Repo Rate
D) VAT
👉 Answer: D) VAT
24. CRR stands for:
A) Cash Reserve Ratio
B) Credit Reserve Ratio
C) Current Reserve Ratio
D) Cash Rate Ratio
👉 Answer: A) Cash Reserve Ratio
25. SLR stands for:
A) Statutory Liquid Ratio
B) Statutory Liquidity Ratio
C) Security Liquidity Ratio
D) Stable Liquidity Ratio
👉 Answer: B) Statutory Liquidity Ratio
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26. Which of the following is a quantitative tool of RBI?
B) Moral Suasion
C) Credit Rationing
D) Margin Requirements
👉 Answer: A) Open Market Operations
27. The term ‘LAF’ stands for:
B) Long-term Adjustment Fund
C) Legal Adjustment Facility
D) Loan Allocation Fund
👉 Answer: A) Liquidity Adjustment Facility
28. Base Rate System was introduced in:
A) 2009
B) 2010
C) 2011
D) 2012
👉 Answer: B) 2010
29. Which of the following is related to inflation control?
A) Repo Rate
B) CRR
C) SLR
D) All of these
👉 Answer: D) All of these
30. The term “Bank Rate” means:
A) Rate at which RBI lends long-term funds to commercial banks
B) Rate for short-term borrowing
C) Rate charged on savings accounts
D) Interest on government loans
👉 Answer: A) Rate at which RBI lends long-term funds to commercial banks
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31. Who publishes the “Financial Stability Report”?
A) Ministry of Finance
B) SEBI
C) RBI
D) NITI Aayog
👉 Answer: C) RBI
32. RBI controls inflation through:
A) Fiscal Policy
B) Monetary Policy
C) Industrial Policy
D) Agricultural Policy
👉 Answer: B) Monetary Policy
33. Which of the following is the RBI’s subsidiary?
A) SBI
B) NABARD
C) Deposit Insurance and Credit Guarantee Corporation (DICGC)
D) SIDBI
👉 Answer: C) DICGC
34. DICGC provides insurance cover to bank deposits up to:
A) ₹50,000
B) ₹1 lakh
C) ₹5 lakh
D) ₹10 lakh
👉 Answer: C) ₹5 lakh
35. RBI’s balance sheet is published:
A) Monthly
B) Quarterly
C) Annually
D) Bi-annually
👉 Answer: C) Annually
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36. Who was RBI Governor during demonetization (2016)?
A) Raghuram Rajan
B) Urjit Patel
C) Shaktikanta Das
D) D. Subbarao
👉 Answer: B) Urjit Patel
37. RBI’s first female Deputy Governor was:
A) Usha Thorat
B) K. J. Udeshi
C) Arundhati Bhattacharya
D) None
👉 Answer: B) K. J. Udeshi
38. RBI publishes which of the following reports?
A) Economic Survey
B) Annual Report
C) Union Budget
D) National Accounts
👉 Answer: B) Annual Report
39. Who chairs the Monetary Policy Committee (MPC)?
A) Finance Minister
B) RBI Governor
C) Deputy Governor
D) CEA
👉 Answer: B) RBI Governor
40. RBI controls the foreign exchange market through:
A) FEMA
B) FERA
C) SEBI
D) NABARD
👉 Answer: A) FEMA
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41. Which institution manages India’s payment systems?
A) SEBI
B) NPCI (under RBI)
C) SBI
D) Ministry of Finance
👉 Answer: B) NPCI (under RBI)
42. RTGS stands for:
A) Real-Time Gross Settlement
B) Rapid Transaction Gross Settlement
C) Regular Time Gross Settlement
D) None
👉 Answer: A) Real-Time Gross Settlement
43. NEFT stands for:
A) National Electronic Fund Transfer
B) National Economic Fund Transfer
C) Nominal Electronic Fund Transfer
D) None
👉 Answer: A) National Electronic Fund Transfer
44. Which institution regulates stock markets in India?
A) RBI
B) SEBI
C) NABARD
D) IRDA
👉 Answer: B) SEBI
45. RBI’s monetary policy aims at:
A) Economic growth
B) Price stability
C) Employment generation
D) All of these
👉 Answer: D) All of these
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46. RBI was established based on the recommendations of:
A) Hilton Young Commission
B) Sarkaria Commission
C) Narasimham Committee
D) Kelkar Committee
👉 Answer: A) Hilton Young Commission
47. Which department of RBI handles currency management?
A) Issue Department
B) Banking Department
C) Accounts Department
D) Economic Research Department
👉 Answer: A) Issue Department
48. Who controls credit creation by commercial banks?
A) SEBI
B) RBI
C) Finance Ministry
D) IMF
👉 Answer: B) RBI
49. The headquarters of RBI was first established in:
A) Delhi
B) Kolkata
C) Mumbai
D) Chennai
👉 Answer: B) Kolkata
50. The Reserve Bank of India is a:
A) Private Bank
B) Commercial Bank
C) Central Bank
D) Co-operative Bank
👉 Answer: C) Central Bank
