2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5
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9
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4
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12
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Detailed explanation-1: -The Reserve Bank has imposed several restrictions, including on the withdrawal of funds, on three cooperative banks in view of their deteriorating financial condition.
Detailed explanation-2: -As part of the restrictions, the two cooperative banks cannot grant loans, make any investment, incur any liability–including borrowal of funds and acceptance of fresh deposits, disburse or dispose of properties or assets.
Detailed explanation-3: -It will also provide more security to depositors. In India, there are 1482 urban co-operatives banks and 58 multi-state co-operative banks.
Detailed explanation-4: -The Indian banking system consists of 12 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1, 485 urban cooperative banks, and 96, 000 rural cooperative banks in addition to cooperative credit institutions.