[amp_mcq option1=”The Reserve Bank of India worked as Central Bank of Burma till April 1947″ option2=”The Reserve Bank of India worked as Central Bank of Pakistan till June 1948″ option3=”The Reserve Bank of India worked as Central Bank of Bangladesh from January 1972 to December 1975″ option4=”The Reserve Bank of India commenced its operations on 1st April 1935″ correct=”option3″]
The correct answer is C. The Reserve Bank of India never worked as the Central Bank of Bangladesh.
The Reserve Bank of India (RBI) is the central bank of India. It was established on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. The RBI took over the functions of the Currency Department of the Government of India and the Imperial Bank of India.
The RBI is the banker to the Government of India and the commercial banks in India. It is also the issuer of the Indian rupee. The RBI is responsible for maintaining price stability, regulating the financial system, and promoting economic growth.
The RBI has three main objectives:
- To maintain price stability
- To promote economic growth
- To ensure financial stability
The RBI pursues these objectives through a variety of tools, including monetary policy, bank supervision, and financial regulation.
The RBI is governed by a board of directors, which is appointed by the Government of India. The board is responsible for setting the RBI’s policies and overseeing its operations.
The RBI is headquartered in Mumbai, with branches in all major cities in India. It also has offices in London, New York, and Tokyo.
The RBI is a statutory body, which means that it is governed by a law passed by the Parliament of India. The RBI Act, 1934, is the main law that governs the RBI.
The RBI is a public sector undertaking, which means that it is owned by the Government of India. The RBI is not a commercial bank, and it does not offer any retail banking services.
The RBI is a member of the Bank for International Settlements (BIS), the International Monetary Fund (IMF), and the World Bank.
The RBI is a highly respected central bank, and it plays a vital role in the Indian economy.