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Money, Banking and RBI: Practice MCQs with Notes

Notes and 22 practice MCQs on Money, Banking and RBI for OPSC ASO, OAS, OSSC and OSSSC.

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    Money and banking

    MeasureMeaning
    M0Reserve money (currency + bankers' deposits with RBI)
    M1Narrow money: currency with public + demand deposits + other deposits with RBI
    M3Broad money: M1 + time deposits (most used)
    • RBI: 1 April 1935, Hilton Young Commission; nationalised 1 Jan 1949; HQ Mumbai (Kolkata first). First Governor Osborne Smith; first Indian Governor C. D. Deshmukh.
    • RBI signs all notes except ₹1 (Finance Secretary). Minimum Reserve System for note issue (1957).
    • Bank types: scheduled (Second Schedule of RBI Act), commercial, RRBs (1975), co-operative, small finance banks, payments banks (no loans).
    • NPA: loan unpaid for 90 days. SARFAESI Act 2002; Insolvency and Bankruptcy Code 2016.
    • Deposit insurance (DICGC) ₹5 lakh per depositor per bank.

    Practice questions

    Sourced from the Odisha Public Service Commission where applicable. opsc.gov.in. EduSaint is not affiliated with OPSC.