Hourly Challenge · Economy & Banking
🕐 31 Oct 2026 · 6 PM IST
5 questions · 20 seconds each · instant explanations. For PSC, UPSC, SSC, Banking & Railway aspirants. No login needed.
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Question 1 / 5Score: 0
In which year was the Reserve Bank of India (RBI) established?
Explanation: The RBI was established on 1 April 1935 under the Reserve Bank of India Act, 1934, on the recommendations of the Hilton Young Commission. It was nationalised on 1 January 1949.
Question 2 / 5Score: 0
How many major commercial banks were nationalised in India on 19 July 1969?
Explanation: On 19 July 1969, the Government under PM Indira Gandhi nationalised 14 major commercial banks. Six more banks were nationalised in a second round in April 1980.
Question 3 / 5Score: 0
In which year was NABARD (National Bank for Agriculture and Rural Development) set up?
Explanation: NABARD was set up on 12 July 1982 under an Act of Parliament, on the recommendation of the CRAFICARD committee (B. Sivaraman), taking over the agricultural credit functions of the RBI.
Question 4 / 5Score: 0
Who was the first Governor of the Reserve Bank of India?
Explanation: Sir Osborne Smith was the first RBI Governor (1935–1937). C. D. Deshmukh (1943–1949) was the first Indian to hold the post.
Question 5 / 5Score: 0
The rate at which the RBI lends short-term funds to commercial banks against government securities is called the:
Explanation: Repo (repurchase) rate is the rate at which the RBI provides short-term liquidity to banks against eligible securities. Bank Rate applies to longer-term loans without such repurchase agreements, while CRR is the share of deposits banks must keep with the RBI.
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