2023
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
SBI
|
|
|
RBI
|
|
|
PNB
|
|
|
BOB
|
Detailed explanation-1: -The Reserve Bank of India (RBI) has recently come out with detailed norms for the outsourcing of IT services by banks, NBFCs and other regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers.
Detailed explanation-2: -A Non–Banking Financial Corporation is a company incorporated under the Companies Act 2013 or 1956. According to section 45-I (c) of the RBI Act, a Non–Banking Company carrying on the business of a financial institution will be an NBFC.
Detailed explanation-3: -The Reserve Bank of India ("") notified the Master Direction on Outsourcing of Information Technology Services ("Master Directions") on April 10, 2023. These Master Directions RBI are released subsequent to receiving public comments on the RBI’s draft of the Master Directions.