BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Government will establish a unified authority for regulating all financial services in IFSCs in India. What is the meaning of “S” in IFSCs?

A	Selling
B	Solutions
C	Scheme
D	Service Show Answer

Explanation:

Detailed explanation-1: -Role of IFSCA The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is the maiden international financial services centre in India.

Detailed explanation-2: -The general functions of UFRA will include making regulations, issuing guidance to financial service providers and supervising their conduct to ensure compliance with law, and taking appropriate enforcement actions to deal with violations.

Detailed explanation-3: -The primary financial regulator bodies in India include the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Small Industries Development Bank of India (SIDBI), Ministry of Corporate Affairs, etc.

There is 1 question to complete.