BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of these banks is regulated by Reserve bank of India?
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Local Area Banks
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Cooperative Banks
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Commercial Banks
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All of the above
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Explanation:
Detailed explanation-1: -National Housing Bank is a subsidiary of RBI. The National Housing Bank (NHB) is India’s apex regulatory authority for housing finance enterprises’ overall regulation and licensing.
Detailed explanation-2: -State Bank of Sikkim is owned by the state government. Due to the special status accorded to Sikkim, State Bank of Sikkim was not under the purview of Banking Regulation Act of 1949 and Reserve Bank of India Act of 1934.
Detailed explanation-3: -Reserve Bank of India(RBI) which is an apex bank that controls and regulates the entire banking system of India was nationalized in 1949. It is the sole agency of issuing currency notes and controls the supply of money in the economy through its monetary policy.
There is 1 question to complete.