Consider the following statements:begin{enumerate}item The Reserve Bank of India (RBI) on 2 April 2014 granted in-principle approvals to IDFC Ltd and Bandhan Financial Services Pvt. Ltd to start new banks in India.item These approvals have been granted under the guidelines on licensing of new banks in the public sector.item The two have been granted the permission to set-up banks from a field of 25 aspirants.end{enumerate} Which of the statements given above is/are correct?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Consider the following statements:

A	on 2 April 2014 granted in-principle approvals to IDFC Ltd and Bandhan Financial Services Pvt. Ltd to start new banks in India.
B	1 only
C	1 and 2 only
D	1 and 3 only
E	1, 2 and 3

Explanation:

Detailed explanation-1: -In 2014, the Reserve Bank of India (RBI) granted an in-principle approval to IDFC Limited to set up a new bank in the private sector.

Detailed explanation-2: -The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.

Detailed explanation-3: -In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.

There is 1 question to complete.