Question : Which section of the RBI Act empowers the Central Government to supersede the RBI board and issue directions considered to be necessary in the public interest to the RBI after consulting the Governor of the bank?
Option 1: Section 1
Option 2: Section 5
Option 3: Section 7
Option 4: Section 3
Correct Answer: Section 7
Solution : The correct answer is Section 7.
"The Central Government may give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest," states Section 7(1) of the RBI Act in 1934.
Furthermore, the government can assign the RBI's Central Board of Directors management based on Section 7(2).
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Question : Which constitutional amendment act of India reduced the voting age from 21 years to 18 years?
Option 1: 42nd Amendment Act
Option 2: 61st Amendment Act
Option 3: 74th Amendment Act
Option 4: 83rd Amendment Act
Question : In which of the following acts was the system of dyarchy introduced at the centre?
Option 1: Indian Councils Act 1909
Option 2: Government of India Act 1919
Option 3: Government of India Act 1935
Option 4: Indian Independence Act 1947
Question : Which of the following acts, enacted by the British Parliament, provided for the establishment of a Law Commission for the consolidation and codification of Indian laws?
Option 1: Indian Council Act, 1909
Option 2: Government of India Act, 1919
Option 3: Charter Act, 1813
Option 4: Charter Act, 1833
Question : Which of the following acts prevents disrespect to the national flag and national anthem?
Option 1: Protection of National Honour Act, 1996
Option 2: Civil Liberties Act, 2001
Option 3: Unlawful Activities (Prevention) Act, 2006
Option 4: Prevention of Insults to National Honour Act, 1971
Question : The abolition of Dyarchy in the provinces was recommended by the________.
Option 1: Government of India Act of 1947
Option 2: Government of India Act of 1858
Option 3: Government of India Act of 1919
Option 4: Government of India Act of 1935
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