BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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Indian Banks Association
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NABARD
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SIDBI
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Detailed explanation-1: -The department came into being in the year 1998 with mainstreaming of the microfinance innovation viz. SHG-Bank linkage programme to a nation-wide scale. NABARD, through the department of ‘Micro Credit Innovations’, has continued its role as the facilitator of microfinance initiatives in the country.
Detailed explanation-2: -1.1 These directions shall be called the Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022.
Detailed explanation-3: -NABARD also extends grant support for formation and nurturing of JLGs to Banks and other JLG Promoting Institutions (JLGPIs). NABARD is the major shareholder of this MFI others being Government of Karnataka, Canara Bank, Union Bank of India, Bank of Baroda, Federal Bank and Dhanalakshmi Bank.
Detailed explanation-4: -NABARD is entrusted with the responsibility for conduct of statutory inspections of State Cooperative Banks, District Central Cooperative Banks and Regional Rural Banks under the Banking Regulation Act, 1949/(AACS). The regulatory powers continue to be vested with the Reserve Bank of India.