BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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supervision of the financial sector
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supervision of all types of payment and settlement systems
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appointing the directors of scheduled banks
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All of the above
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Detailed explanation-1: -Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies. The Board is constituted by co-opting four Directors from the Central Board as members for a term of two years and is chaired by the Governor.
Detailed explanation-2: -Primary objective of BFS is to undertake consolidate supervision of the financial sector comprising commercial banks, financial institution and non-banking finance companies .
Detailed explanation-3: -BFS. Banking and Financial Services. BFS. Be File System (BeOS)
Detailed explanation-4: -Financial supervision means the monitoring by competent authorities of financial firms’ compliance with the provisions of the regulatory framework. Such monitoring is carried out on a preventative basis and is also widely known as ‘micro-prudential supervision’.