BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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SEBI
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NABARD
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Both (a) and (c)
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Detailed explanation-1: -NABARD is entrusted with the responsibility for conduct of statutory inspections of State Cooperative Banks, District Central Cooperative Banks and Regional Rural Banks under the Banking Regulation Act, 1949/(AACS).
Detailed explanation-2: -The Reserve Bank regulates the banking functions of StCBs/DCCBs/UCBs under the provisions of Sections 22 and 23 of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies (AACS).
Detailed explanation-3: -RRBs are regulated by NABARD. Other banks are regulated by RBI directly.
Detailed explanation-4: -NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.
Detailed explanation-5: -NABARD supervises State Cooperative Banks (StCBs), District Cooperative Central Banks (DCCBs), and Regional Rural Banks (RRBs) and conducts statutory inspections of these banks.