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of RBI Act gi...

Question

of RBI Act gives powers to government to issue instructions to governor on certain issues

A

Section 4

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B

Section 7

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C

Section 8

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Solution

The correct option is B Section 7
Section 7 in The Reserve Bank of India Act, 1934 says the Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest.

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Q. Section 7 of the RBI Act gives power to the government to consult and give instructions to the governor of RBI

Q. The Governor-General was given power to issue ordinances by the act of ________.

Q. RBI issues to the central government to help them pay its financial obligation.

Q. A. But, clearly, the government still has the final say.
B. In the past few years, the Reserve Bank of India might have wrested considerable powers from the government when it comes to monetary policy.
C. The RBI's announcements on certain issues become effective only after the government notifies them.
D. Isn't it time the government vested the RBI with powers to sanction such changes, leaving their ratification for later?

(CAT 1997)

Q. Consider the following statements
1. Section 7 of the RBI Act provides power to the Government to give directions to the RBI
2. Contingency reserves of the RBI are resources aimed at dealing with black swan like events

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