The primary objective of the Reserve Bank of India's monetary policy is to: MCQ with Answer and Explanation

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The primary objective of the Reserve Bank of India's monetary policy is to:

A. eliminate fiscal deficit

B. manage government expenditure

C. maintain price stability while keeping in mind the objective of growth

D. maximize exports

Answer: Option C

Solution (By JKSSB Mock Tests)

The RBI's monetary policy aims primarily to maintain price stability while supporting economic growth.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'RuPay' card is a product of:

A. SEBI

B. RBI

C. SBI

D. National Payments Corporation of India

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Correct Answer: Option D

Explanation:
RuPay card is an Indian payment card product of NPCI.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a major objective of the Reserve Bank of India?

A. Formulation of Five Year Plans

B. Maintaining monetary stability and regulating the financial system

C. Collection of direct taxes

D. Formulation of the Union Budget

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Correct Answer: Option B

Explanation:
The RBI's primary responsibilities include maintaining price and financial stability, regulating banks and the financial system, and managing the currency and foreign exchange.

This question belongs to: Economy GK Economy Set 1

Question #3

Unified Payments Interface enables:

A. only cheque clearing

B. only government payments

C. only credit card payments

D. instant interbank transfer using a virtual payment address

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Correct Answer: Option D

Explanation:
UPI enables instant interbank transfers through virtual payment addresses using mobile devices.

This question belongs to: Economy GK Economy Set 1

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