BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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provides a common forum to the member banks
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promotes and protects the interests of the member banks
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co-ordinate and liaison with Government of India and RBI
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All of the above
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Detailed explanation-1: -About NAFSCOB The National Federation of State Co-operative Banks Ltd. (NAFSCOB), was established on 19th May 1964 with a view to facilitate the operations of State and Central Co-operative Banks in general and Development of Co-operative Credit in particular. Planning, Research and Development (PRD).
Detailed explanation-2: -State Cooperative Agriculture and Rural Development Banks (SCARDS)-These operate at state-level.
Detailed explanation-3: -Detailed Solution. The correct answer is 12. The Indian banking system consists of 12 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1, 485 urban cooperative banks, and 96, 000 rural cooperative banks in addition to cooperative credit institutions.
Detailed explanation-4: -Scheduled banks are banks that are listed in the 2nd schedule of the Reserve Bank of India Act, 1934. The bank’s paid-up capital and raised funds must be at least Rs5 lakh to qualify as a scheduled bank. Scheduled banks are liable for low-interest loans from the Reserve Bank of India and membership in clearinghouses.