BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Who is the intermediary bank of India?

A	SBI
B	PNB
C	BOB
D	RBI

Explanation:

Detailed explanation-1: -RBI acts as an intermediary between the remitting bank and the receiving bank and effects inter-bank funds transfer. The customers of banks can request their respective branches to remit funds to the designated customers irrespective of bank affiliation of the beneficiary.

Detailed explanation-2: -State Bank to act as agent of the Reserve Bank | State Bank of India Act, 1955 | Bare Acts | Law Library | AdvocateKhoj. (b) undertaking and transacting any other business which the Reserve Bank may from time to time entrust to it.

Detailed explanation-3: -At present RBI regulates and supervises only nine select DFIs, viz., IDBI, IFCI Ltd. TFCI Ltd., IDFC Ltd., IIBI Ltd., EXIM Bank, NABARD, NHB and SIDBI.

Detailed explanation-4: -Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.

There is 1 question to complete.