The Monetary Policy Committee of RBI is a statutory body established under the Reserve Bank of India Act, 1934. It works to maintain currency stability keeping in mind the goal of economic development. The Monetary Policy Committee is a committee set up by the Government of India to make the interest rate determination more useful and transparent. As per the provisions of the Reserve Bank of India Act, out of the six members of the Monetary Policy Committee, three members are from the RBI and the other three members are appointed by the central bank. Let's know more about RBI Monetary Policy 2021.
1. The RBI has estimated the real gross domestic product (GDP) growth rate to be _____________% in the year 2021-22 due to the impact of the COVID-19 epidemic.
A. 1.50%
B. 5.50%
C. 10.5%
D. 11.50%
2. A decline of ___________% in the June quarter of the year 2020-21 due to lockdown in GDP and industry shutdown.
A. 13.90%
B. 23.9%
C. 33.90%
D. 43.90%
3. There was a __________% drop in the 2020–21 September quarter.
A. 0.50%
B. 6.50%
C. 7.5%
D. 8.50%
4. Unlike nominal GDP, it refers to the value of all goods and services expressed at the prices of a base year, is called:
A. Nominal GDP
B. Real GDP
C. Both of the above
D. None of the above
5. RBI has not made any change in the ___________ under the Liquidity Adjustment Facility- LAF.
A. GDP
B. GNP
C. SGDP
D. Repo Rate
6. Which of the following is the repo rate of RBI?
A. 1%
B. 2%
C. 3%
D. 4%
7. What is the Marginal Standing Facility rate of RBI?
A. 3.35%
B. 4.35%
C. 5.35%
D. 6.35%
8. Bank Rate remains unchanged at:
A. 3.25%
B. 4.25%
C. 7.25%
D. 8.25%
9. RBI has decided to restore CRR from ________% to _______% in two phases by May 2021 in a non-disruptive manner.
A. 1% to 2%
B. 2% to 3%
C. 3% to 4%
D. 4% to 5%
10. When was the Monetary Policy Committee constituted by the Government of India?
A. 27 Jun 2014
B. 27 Jun 2015
C. 27 Jun 2016
D. 27 Jun 2018
11. On which banks take a loan from Reserve Bank of India called:
A. Repo rate
B. Intrest rate
C. Reverse repo rate
D. None of these
12. What is Liquidity Adjustment Facility?
A. It is the instrument used under monetary policy
B. It is the loan statement used under monetary policy
C. It is the non performing assets used under monetary policy
D. All of the above
13. Under which each bank has to keep a certain portion of its total cash reserves with the Reserve Bank?
A. CRR
B. CPR
C. GRR
D. GDP
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