GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who conducts integrated supervision over commercial banks, FIs and NBFCs and other para-banking financial institutions, in India?
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FCMD of RBI
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Security Exchange Board of India
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Dept. Of Banking Operations, RBI
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Ministry of Finance, Govt. of India
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Explanation:
Detailed explanation-1: -The Department of Non-Banking Supervision (DNBS) is entrusted with the responsibility of regulation and supervision of Non-Banking Financial Companies (NBFCs) under the regulatory-provisions contained under Chapter III B and C and Chapter V of the Reserve Bank of India Act, 1934.
Detailed explanation-2: -For dedicated and integrated supervision over all credit institutions, i.e., banks, development financial institutions and non-banking financial companies, the Board for Financial Supervision (BFS) was set up in November 1994 under the aegis of the Reserve Bank of India.
There is 1 question to complete.