The Reserve Bank of India (RBI) has opposed a move to establish a separate entity to regulate payments and settlements as recommended by which of the following Committee

2016

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

A	V V Daga Committee
B	Deepak Mohanty Committee
C	Arvind Mayaram Committee
D	Ratan Watal Committee

Explanation:

Detailed explanation-1: -The Committee on Payments and Market Infrastructures (CPMI) is an international standard setter that promotes, monitors and makes recommendations about the safety and efficiency of payment, clearing, settlement and related arrangements, thereby supporting financial stability and the wider economy.

Detailed explanation-2: -By overseeing payment and settlement systems, central banks help to maintain systemic stability and reduce systemic risk, and to maintain public confidence in payment and settlement systems.

Detailed explanation-3: -The P J Nayak Committee or officially the Committee to Review Governance of Boards of Banks in India was set up by the Reserve Bank of India (RBI) to review the governance of the board of banks in India.

Detailed explanation-4: -Under the PSS Act, 2007, two Regulations have been made by the Reserve Bank of India, namely, the Board for Regulation and Supervision of Payment and Settlement Systems Regulations, 2008 and the Payment and Settlement Systems Regulations, 2008.

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