Reserve Bank of India controls the activities of some of the following banks in India : (i) Commercial…
As the apex monetary and banking regulator of the country under the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, the Reserve Bank of India regulates…
Choose your answer
Reserve Bank of India controls the activities of some of the following banks in India :
(i) Commercial Banks
(ii) Cooperative Banks
(iii) Foreign Banks
(iv) Rural Banks
Answer and explanation
Correct answer D
As the apex monetary and banking regulator of the country under the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, the Reserve Bank of India regulates and supervises the banking activities of (i) Commercial Banks, (ii) Cooperative Banks (brought under the Banking Regulation Act in 1966), (iii) Foreign Banks operating in India, and (iv) Regional Rural Banks (alongside NABARD's supervisory role). Thus, '(i), (ii), (iii) and (iv)' is correct.
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UGC NET Commerce