BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

The Reserve Bank of India has shortlisted six major IT companies, including TCS, Wipro and IBM India, to set up a wide-based DPCR. What does C stands for in DPCR?

A	Clearing
B	Corporate
C	Corporation
D	Credit

Explanation:

Detailed explanation-1: -The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks. These powers are exercised through on-site inspection and off site surveillance.

Detailed explanation-2: -Reserve Bank of India supervises the functioning of formal sources of loans in India.It issues currency notes on behalf of the central government. It issues guidelines for fixing rate of interest on deposits and lending by banks.

Detailed explanation-3: -The Reserve Bank of India (RBI) supervises the functioning of the formal sources of loans i.e. the banks and cooperatives in order to ensure that the banks give loans not just to profit-making businesses and traders but also to small scale industries and small borrowers etc.

Detailed explanation-4: -NBFCs Which Need Not be Registered With RBI Core Investment Companies – (assets are less than 100 crore or public funds not taken) Merchant Banking Companies. Companies that are engaged in the business of stock-broking. Housing Finance Companies.

There is 1 question to complete.