BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which committee first time in India supported the concept of Insuring Deposits?
A
Rural Banking Deposit Committee
B
Urban Banking Enquiry Committee
C
Rural Banking Enquiry Committee
D
SBI Rural Banking Enquiry Committee
Explanation: 

Detailed explanation-1: -The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961.

Detailed explanation-2: -The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961 and received the assent of the President on December 7, 1961. The Deposit Insurance Corporation commenced functioning on January 1, 1962 . The Deposit Insurance Scheme was initially extended to functioning commercial banks.

Detailed explanation-3: -The Nariman committee was appointed by the Reserve Bank of India (RBI) in 1969, soon after the nationalisation of 14 banks. The Nariman Committee was appointed with the mandate of giving recommendations on how the banking facilities could be spread across India in an adequate manner.

Detailed explanation-4: -The Goiporia Committee was set up in 1990 by the Reserve Bank of India (RBI). The Goiporia committee was given the mandate of exploring and giving recommendations for improving customer service in the banks.

There is 1 question to complete.