Consider the following statements:begin{enumerate}item Umesh Chandra committee was set up by RBI to study the various issues relating to financial benchmarks.item The committee has recommended change in determining money market benchmark.item Ram Chandra committee was set up by SEBI to study the various issues relating to financial benchmarks.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	1 only
B	2 only
C	Both 1 and 2
D	only 3

Explanation:

Detailed explanation-1: -The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.

Detailed explanation-2: -Financial Inclusion by RBI No frills account. BSBDA – Basic savings bank deposit account. LBS – Lead banking scheme. PMJDY – Pradhan Mantri Jan Dhan Yojana.

Detailed explanation-3: -From the 1991 India economic crisis to its status of third largest economy in the world by 2011, India has grown significantly in terms of economic development, so has its banking sector.

Detailed explanation-4: -Banks have been advised to take effective steps for reduction of NPAs and also put in place risk management systems and practices to prevent re-emergence of fresh NPAs. Banks are permitted to issue bonds for augmenting their Tier II capital.

There is 1 question to complete.