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1.  
As on 14 October 2026 (RBI home page), the policy repo rate was:

Correct Answer: D [5.50%]

Explanation:

5.50% after the MPC raised it by 25 bps on 7 October 2026.

2.  
As on 14 October 2026 (RBI home page), the Cash Reserve Ratio was:

Correct Answer: C [3.00%]

Explanation:

CRR 3.00%; SLR 18.00%.

3.  
The quorum for a meeting of the Monetary Policy Committee is:

Correct Answer: B [4]

Explanation:

Quorum: four members.

4.  
A bank's NDTL is ₹ 3,20,000 crore. At a CRR of 3%, how much must it keep with the RBI?

Correct Answer: E [₹ 9,600 crore]

Explanation:

3% of 3,20,000 = ₹ 9,600 crore.

5.  
Odd one out (by direction of liquidity):

Correct Answer: A [SDF]

Explanation:

SDF absorbs liquidity (money goes into the RBI); the other four inject it.

6.  
Which of the following is/are correct?
I. Under the MSF, banks can borrow overnight by dipping into their SLR portfolio up to a predefined limit.
II. The SDF requires banks to place government securities as collateral.
III. The Bank Rate is the penal rate for shortfalls in CRR and SLR.

Correct Answer: D [Only I and III]

Explanation:

I true (up to 2%); II false – SDF deposits are uncollateralised; III true (RBI definition).

7.  
Sanjay Malhotra took charge as which Governor of the RBI (RBI website, read 16 Oct 2026)?

Correct Answer: A [26th]

Explanation:

26th Governor, effective 11 December 2024, for three years.

8.  
Who was the first Indian Governor of the RBI?

Correct Answer: E [C. D. Deshmukh]

Explanation:

C. D. Deshmukh took office on 11 August 1943; Smith and Taylor were before him.

9.  
If the repo rate moves from 5.25% to 5.50%, the change is:

Correct Answer: B [25 bps]

Explanation:

0.25 percentage point × 100 = 25 basis points.

10.  
True or false? "The inflation target is fixed by the Monetary Policy Committee."

Correct Answer: B [False – it is fixed by the Central Government in consultation with the RBI]

Explanation:

The Central Government sets the target in consultation with the RBI, once every five years.

11.  
The maximum number of Deputy Governors under the RBI Act is:

Correct Answer: C [4]

Explanation:

Governor plus up to four Deputy Governors.

12.  
Which RBI subsidiary prints bank notes?

Correct Answer: E [BRBNMPL]

Explanation:

Bharatiya Reserve Bank Note Mudran Private Limited.

13.  
Odd one out:

Correct Answer: B [Moral suasion]

Explanation:

Moral suasion is a qualitative (selective) tool; the rest are quantitative.

14.  
The RBI manages foreign exchange under the Foreign Exchange Management Act of:

Correct Answer: C [1999]

Explanation:

FEMA, 1999 (it replaced FERA, 1973).

15.  
A home loan of ₹ 36 lakh is linked to repo with full pass-through. If repo falls by 50 bps, the yearly interest falls by:

Correct Answer: D [₹ 18,000]

Explanation:

36,00,000 × 50 ÷ 10,000 = ₹ 18,000.

16.  
Reverse question: the RBI buys or sells government securities outright to inject or absorb durable liquidity. This tool is:

Correct Answer: A [Open market operations]

Explanation:

OMOs = outright purchase/sale of government securities.

17.  
Short-term advances given by the RBI to governments to tide over temporary mismatches between receipts and payments are called:

Correct Answer: C [Ways and Means Advances]

Explanation:

WMA cover temporary mismatches; drawing beyond the WMA limit is an overdraft.

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