GK Quiz on RBI Governors of India

With the appointment of the new RBI governor and Shaktikanta Das stepping down, the role of the RBI governor has gained significant attention. There have been many instances when the RBI governor has been in the limelight, be it the execution of demonetization policy in 2016, or becoming the PM of India. 

Test your knowledge about this important position in India with the quiz below:

1. Who is the first Governor of the Reserve Bank of India (RBI)?
   a) CD Deshmukh
   b) Osborne Smith
   c) Manmohan Singh
   d) Bimal Jalan
2. Who is the current Governor of the Reserve Bank of India (as of December 2024)?
   a) Raghuram Rajan
   b) Sanjay Malhotra
   c) Shaktikanta Das
   d) Urjit Patel
3. Which of the following RBI Governor became the Prime Minister of India?
   a) Raghuram Rajan
   b) Duvvuri Subbarao
   c) Manmohan Singh
   d) C. Rangarajan
4. What is the tenure period of the RBI Governor?
   a) 3 years
   b) 5 years
   c) 4 years
   d) 2 years
5. Who was the RBI Governor during the demonetization of ₹500 and ₹1,000 notes in the year 2016?
   a) Raghuram Rajan
   b) Shaktikanta Das
   c) Urjit Patel
   d) D. Subbarao
6. Which of these is NOT a role of the RBI Governor?
   a) Issuing currency notes
   b) Managing the country's foreign exchange reserves
   c) Making the Country’s budget
   d) Regulating monetary policies
7. Who is the longest-serving Governor of the RBI?
   a) Osborne Smith
   b) Y. Venugopal Reddy
   c) Benegal Rama Rau
   d) Shaktikanta Das
8. Which RBI Governor introduced the concept of Priority Sector Lending (PSL)?
   a) Manmohan Singh
   b) CD Deshmukh
   c) KC Neogy
   d) LK Jha
9. Where is the headquarters of the Reserve Bank of India (RBI) located?
   a) Mumbai
   b) New Delhi
   c) Kolkata
   d) Chennai
10. What is the name of the headquarters of the Reserve Bank of India?
    a) Parliament House
    b) Mint Street
    c) Rajiv Gandhi Bhawan
    d) RBI Bhawan
    Answer: b) Mint Street

Answers:

1. (b) Osborne Smith: Osborne Smith was the first Governor of the Reserve Bank of India, serving from April 1, 1935, to June 30, 1937. He was a British banker appointed during the colonial period.
2. (b) Sanjay Malhotra: Sanjay Malhotra is the current Governor of the Reserve Bank of India, appointed for a three-year term starting in December 2024. He succeeded Shaktikanta Das in this role.
3. (c) Manmohan Singh: Manmohan Singh, who served as the 15th RBI Governor from 1982 to 1985, later became the Prime Minister of India from 2004 to 2014 during the UPA government. He also served as the Finance Minister of India from 1991 to 1996 under the government of PV Narasimha Rao. 
4. (a) 3 years: The tenure of the RBI Governor is typically 3 years. However, the central government can extend or shorten the tenure of the RBI governor.
   

5. (c) Urjit Patel: Urjit Patel was the RBI Governor during the demonetization of ₹500 and ₹1,000 notes announced in November 2016. He served as the RBI governor from 2016 to 2018.
6. (c) Making the Country’s budget: The RBI Governor is responsible for issuing currency notes, managing foreign exchange reserves, and regulating monetary policies. However, creating the country’s budget is handled by the Ministry of Finance, not the RBI Governor.
7. (c) Benegal Rama Rau: Benegal Rama Rau served as the Governor of the Reserve Bank of India from 1949 to 1957, holding the position for a total of 8 years, making him the longest-serving RBI Governor.
8. (d) LK Jha: LK Jha, the 13th Governor of the Reserve Bank of India, introduced the concept of Priority Sector Lending (PSL) in the early 1960s. This policy aimed to promote the growth of essential sectors like agriculture, small-scale industries, and education by ensuring that banks lend loans to these sectors at concessional rates.
9. (a) Mumbai: The Reserve Bank of India (RBI) headquarters is located in Mumbai, Maharashtra. It was initially established in Kolkata in 1935 but was moved to Mumbai in the year 1937 due to increasing communist influence in the state. 
10. (b) Mint Street: The Reserve Bank of India's headquarters is located on Mint Street in Mumbai. It is the main center for all of the RBI's activities, including managing money, banking, and policies.

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