CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank has given its go-ahead to Ujjivan Small Finance Bank (SFB ) to form a special committee of directors to oversee operations in the absence of an MD and CEO.

Detailed explanation-2: -Ujjivan Small Finance Bank Limited The bank is licensed under Section 22 (1) of the Banking Regulation Act, 1949 in order to carry out small finance bank business.

Detailed explanation-3: -Ujjivan Small Finance Bank (SFB) on December 7 said it has received the approval of the Reserve Bank of India (RBI) for reappointment of Ittira Davis as its managing director and chief executive officer for a period of two years.

Detailed explanation-4: -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-5: -The Reserve Bank of India was established on 1st April 1935. It is the central bank of India that controls all the banks in the country. Hence, Option 3 is correct.