✅ Answer: B) April 1, 1935The Reserve Bank of India was established on April 1, 1935 under the Reserve Bank of India Act, 1934. It was nationalised on January 1, 1949. Its headquarters is in Mumbai (shifted from Kolkata in 1937).

✅ Answer: B) Keep as cash with RBICRR (Cash Reserve Ratio) is the percentage of deposits that banks must keep as cash with RBI. Banks earn NO interest on CRR. SLR (Statutory Liquidity Ratio) is the percentage of deposits that banks must maintain in liquid assets (gold, government securities) — banks earn interest on SLR.

✅ Answer: C) RBI lends to commercial banksRepo Rate (Repurchase Rate) is the rate at which RBI lends short-term funds to commercial banks. Reverse Repo Rate is the rate at which RBI borrows from commercial banks. Higher Repo Rate → costlier loans for banks → higher interest rates for customers → less borrowing → lower inflation.

✅ Answer: B) C.D. DeshmukhC.D. Deshmukh (Chintaman Dwarkanath Deshmukh) was the first Indian Governor of RBI, appointed in 1943. Sir Osborne Smith was the first Governor of RBI (British). C.D. Deshmukh later became India’s Finance Minister.

✅ Answer: C) August 28, 2014PM Jan Dhan Yojana (PMJDY) was launched on August 28, 2014 — India’s largest financial inclusion initiative. It provides zero-balance bank accounts, RuPay debit cards with ₹2 lakh accident insurance, and overdraft facility. Over 50 crore accounts have been opened.

✅ Answer: C) 196914 major commercial banks were nationalised on July 19, 1969 by PM Indira Gandhi. Banks with deposits of ₹50 crore or more were nationalised. 6 more banks were nationalised in 1980. Total 20 banks were nationalised in two phases.

✅ Answer: C) 90 days or moreA Non-Performing Asset (NPA) is a loan or advance where the borrower has not paid interest or principal for 90 days or more. NPAs are classified as Sub-standard (less than 12 months), Doubtful (more than 12 months), and Loss assets.

✅ Answer: C) National Payments Corporation of India (NPCI)UPI was launched in 2016 by NPCI (National Payments Corporation of India). It is a mobile-based instant payment system that processes over 10 billion transactions per month. India accounts for approximately 46% of global real-time digital payments.

✅ Answer: C) 2016The Insolvency and Bankruptcy Code (IBC) was enacted in 2016. It provides a time-bound process (180 days, extendable to 270 days) for resolving insolvencies. Cases are handled by the National Company Law Tribunal (NCLT). IBC has significantly improved India’s ease of doing business ranking.

✅ Answer: C) 4% CPI inflation (±2%)RBI’s inflation target under flexible inflation targeting (adopted in 2016) is 4% CPI inflation with a tolerance band of ±2% (i.e., between 2% and 6%). If inflation exceeds 6% for 3 consecutive quarters, RBI must explain to the government. The Monetary Policy Committee (MPC) decides the repo rate to achieve this target.