BANKER TO GOVERNMENT AND BANKS

Question 1

The bank provides short-term interest-bearing advance – to the Governments that is called as ………….

Answer 1

Ways and Means Advances

Question 2

Final compilation of Government accounts, of the Centre and the States, is done at ……………………………. Section, ……………………. office of the Reserve Bank.

Answer 2

Central Accounts Section, Nagpur office

Question 3

In RBI, which department issues general guidelines for opening the current accounts

Answer 3

The Department of Government and Bank Accounts (DGBA).

Question 4

The principal accounts of the various Central government departments is maintained at.

Answer 4

Central Accounts Section, Nagpur office

Question 5

the Bank is banker to all the States and the Union Territories in the country, except for the State of ……………….

Answer 5

Sikkim

Question 6

To tide over temporary mismatches in the cash flow of receipts and payments, the Reserve Bank provides ………………………, ………………………. And ……………….. to the State Governments

Answer 6

Special Drawing Facility (SDF), Normal Ways and Means Advances and Overdraft (OD)

Question 7

The …………………………… and ………………………. may make rules for the receipt, custody and disbursement of money from the consolidated fund, contingency fund, and public account.

Answer 7

Central Government and State Governments.

These rules are legally binding on the Reserve Bank as accounts for these funds are with the Reserve Bank.

Question 8

The current accounts of individual banks are being opened in …………….. by Banking Departments of the Regional Offices

Answer 8

e-kuber (CBS of RBI)