GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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closed user group network of SBI and its subsidiaries
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association of the employers of the banking and financial sector
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communication backbone for the Indian Banking and Financial sector
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all of the above
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Detailed explanation-1: -Considered the communication backbone of the Indian Banking and Financial Sector, the Indian Financial Network (INFINET) is a membership-only Closed User Group (CUG) Network that comprises the Reserve Bank of India, Member Banks and Financial Institutions.
Detailed explanation-2: -4.2 Currently, the four AIFIs regulated and supervised by the Reserve Bank are Export-Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB) and Small Industries Development Bank of India (SIDBI).
Detailed explanation-3: -The INFINET will be the communication backbone for the National Payments System, which will cater mainly to inter-bank applications like RTGS, Delivery Vs Payment (DVP), Government Transactions, Automatic Clearing House (ACH) etc.
Detailed explanation-4: -Regulatory – Institutes that regulate the financial markets like RBI, IRDA, SEBI, etc. Intermediates – Commercial banks which provide loans and other financial assistance such as SBI, BOB, PNB, etc. Non Intermediates – Institutions that provide financial aid to corporate customers.