Banking Awareness Quiz - Set 97

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1. RBI announced its Fourth Bi-Monthly Monetary Policy Review on ___________
1. 1 October 2016
2. 30 September 2016
3. 4 October 2016
4. 21 September 2016
5. 2 October 2016
2.  On 4th October 2016, first time the MPC announced its Monetary Policy review, after its establishment. In this context, MPC stands for ___________
1. Money Policy Committee
   
2. Monetary Policy Consortium
3. Money Primary Committee
4. Monetary Public Committee
5. Monetary Policy Committee 
3. In the Monetary Policy Committee, the six members are ___________ 
1. Two members represented from RBI and four members selected by government of India.
2. Three from RBI, one from commercial banks and two represented by government of India.
3. One from RBI, five members sends by government of India.
4. Three members represented from RBI and three members appointed by Central Government.
5. In the amended Act, the composition of MPC not mentioned. 
4. As part of Monetary Policy Committee three members from RBI are, the RBI governor Urjith Patel, Deputy Governor RBI in charge of Monetary Policy R. Gandhi and ___________ 
1. Michael Patra, the Executive Director of RBI.
2. Ms. Anjuly Chib Duggal Secretary, Department of Financial Services.
3. Professor Damodar Acharya, the Director in Central Board of Directors, RBI
4. Bharat Narotam Doshi, the Director in Central Board of Directors, RBI.
5. Chief Ombudsman of RBI 
5. Union Government appoints three members to the Monetary Policy Committee (MPC) on the recommendations of a Search-cum-Selection Committee, which will be headed by  ___________
1. Cabinet Secretary
2. Finance Secretary
3. Principal Secretary to PM
4. Vice-Chairman, NITI Aayog
5. Prime Minister of India 
6. Appointments Committee of the Cabinet (ACC) on 22 September 2016 approved the names of three members to Monetary Policy Committee. They are Chetan Ghate, Pami Dua and  ___________
1. Ravindra Dholakia
2. Raman Subramaniam
3. Rammohan Rao Jamili
4. Ketan Vatsav
5. Rakesh Mohan 
7. Monetary Policy Committee headed by ___________
1. Finance Minister
2. Chief Economic Advisor to Government of India
3. RBI Governor
4. Chief Economic advisor to Prime Minister of India in Economic affairs
5. Secretary, Economic Affairs Government of India 
8. In the MPC (Monetary Policy Committee), there will be six members. In case there is tie at the time of voting, then ___________ 
1. Resolution will be introduced again
2. Finance Minister will be called to cast extra vote
3. Governor will have Veto power to drop the resolution
4. Governor of RBI will have Casting vote
5. Chief Economic Advisor to Government of India will have casting vote
9. Indian Air Force exercised the Disaster Relief Exercise by what name in Gujarat on September 14th 2016 ?
1. 'Eku Viran'
2. 'Iron Fist'
3. 'Lonely Planet'
4. 'Ex Sahayata'
5. 'Ex Varsh'
10. RBI lends money to commercial banks in the event of any shortfall of funds at the rate of  ___________ 
1. Statutory Lending Rate
2. Reverse Repo Rate
3. Repo Rate
4. Cash Reserve Ratio
5. RBI Reference Rate 
11. On 4 October 2016, RBI cut the short-term lending rate, or Repo rate by ___________ 
1. 50 basis points
2. 100 basis points
3. 125 basis points
4. 75 basis points
5. 25 basis points 
12. Present Repo Rate fixed at  ___________ 
1. 6.25%
2. 6.5%
3. 7.0%
4. 21%
5. 4.0% 
13. The newly-formed Monetary Policy Committee (MPC) cited which is the primary reason to reduce the Repo Rate on 4 October 2016 ?
1. Increasing oil prices
2. Recent license to On Tap Licensing system' of RBI
3. Increasing inflation
4. Increasing GDP in the first half of 2016-17 Financial Year
5. Decreasing inflation
14. Reverse Repo Rate under the LAF stands adjusted to ___________   
1. 6.0%
2. 6.25%
3. 5.75%
4. 5.25%
5. 5.50% 
15. LAF stands for ___________   
1. Liquidity Adjournment Facility
2. Liquidity Adjustment Facility
3. Liability Adjustment Facility
4. Liquidity Addition Facility
5. LIBOR Adjustment Facility 

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