Which of the following is/are the major reforms the Govt has introduced in the banking sector?begin{enumerate}item Dismantling the complex system of interest rate controlsitem Eliminating prior approval of the RBI for large loansitem Introduction of capital adequancy norms and a few other prudential normsend{enumerate}

BANKING GENERAL KNOWLEDGE

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

Which of the following is/are the major reforms the Govt has introduced in the banking sector?

A	Only 1
B	Only 2
C	Only 3
D	All the above

Explanation:

Detailed explanation-1: -This committee was formed right after the economic crisis. It suggested – Autonomy in Banking, Reforms in the role of RBI, Change in CRR and SLR, Recovery of Debts, Freedom of Operation, Local Area Banks, Prudential Norms, and Entry of Foreign Banks.

Detailed explanation-2: -The reforms in the Indian banking sector have been introduced to increase the efficiency, stability, and effectiveness of banks. Some of these recent reforms are: National Asset Reconstruction Company Limited (NARCL): Setting up of the NARCL was announced in the Union Budget 2021-22.

Detailed explanation-3: -As part of Banking Sector Reforms in 1991, CRR and SLR were-

Detailed explanation-4: -Thus, the new reforms in the Indian banking system include Digitisation of bank operations and Banking consolidation. UGC NET E Certificate Out for December 2021 and June 2022 Cycle.

There is 1 question to complete.