The Daily Current Affairs Quiz questions are based on various national and regional newspapers including government news sources.
The questions are framed on happenings around you to enhance your competitiveness for news based concepts and facts
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Question 1 of 5
1. Question
Which of the following groups consists entirely of quantitative tools of monetary policy?
Correct
(d) Bank Rate, Open Market Operations, Repo Rate and Reverse Repo Rate
Incorrect
(d) Bank Rate, Open Market Operations, Repo Rate and Reverse Repo Rate
Question 2 of 5
2. Question
Which of the following is considered an asset for a commercial bank?
Correct
(c) Credit to farmers
Incorrect
(c) Credit to farmers
Question 3 of 5
3. Question
Consider the following statements with reference to Inflation Targeting:
Statement-I:
The RBI and Government of India signed the Monetary Policy Framework Agreement in 2015.
Statement-II:
The inflation target is set at 8%, with an allowable band of ±2% (i.e., 6% to 10%).
Which one of the following is correct in respect of the above statements?
Correct
Statement-I is correct because the RBI and the Government of India did sign the Monetary Policy Framework Agreement in 2015. However, Statement-II is incorrect because the inflation target is actually set at 4%, with an allowable band of ±2% (i.e., 2% to 6%).
Incorrect
Statement-I is correct because the RBI and the Government of India did sign the Monetary Policy Framework Agreement in 2015. However, Statement-II is incorrect because the inflation target is actually set at 4%, with an allowable band of ±2% (i.e., 2% to 6%).
Question 4 of 5
4. Question
With reference to Monetary Policy Committee (MPC), consider the following:
1. The composition of the MPC includes 12 members.
2. The core function of the MPC is to determine the benchmark policy rate, commonly known as the repo rate.
3. The decisions taken by the MPC are not binding on the Reserve Bank of India (RBI).
How many of the statements given above are correct?
Correct
Explanation:
1. The composition of the MPC includes 6 members, not 12.
2. The core function of the MPC is indeed to determine the benchmark policy rate, commonly known as the repo rate.
3. The decisions taken by the MPC are binding on the Reserve Bank of India (RBI).
Incorrect
Explanation:
1. The composition of the MPC includes 6 members, not 12.
2. The core function of the MPC is indeed to determine the benchmark policy rate, commonly known as the repo rate.
3. The decisions taken by the MPC are binding on the Reserve Bank of India (RBI).
