CURRENT AFFAIRS

Detailed explanation-1: -Answer: Option C Explanation: RBI and the Bank Indonesia (BI) signed a Memorandum of Understanding on July 16, 2022, in Bali, Indonesia, on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to improve mutual cooperation between the two central banks.

Detailed explanation-2: -The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have entered into an MoU for collaboration in the field of regulation.

Detailed explanation-3: -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.

Detailed explanation-4: -The banks whose permits have been cancelled by the RBI include Independence Cooperative Bank Limited, Mantha Urban Cooperative Bank Ltd, People’s Cooperative Bank Limited, Mudhol Cooperative Bank Limited, Millath Cooperative Bank Limited and others.

Detailed explanation-5: -ARTICLES. Pune: The city-based Cosmos Bank has confirmed that it has formally amalgamated all operations and branches of the Sharada Sahakari Bank from Sunday, a day after the Reserve Bank of India (RBI) approved the merger process, making the acquisition the 16th of its kind by Cosmos Bank.