Consider the following statements: 1. Recently, The Reserve Bank of India has approved the establishment of National Urban Cooperative Finance and Development Corporation (NUCFDC) to support and strengthen Urban Cooperative Banks (UCBs) in India. 2. The primary objective of this new entity is to improve the financial literacy of customers of UCBs. 3. This initiative is expected to enhance the overall financial stability of the Indian banking sector. Mark the correct statement from the above using the codes given below:
Both 1 and 3
Why in the News?
"PNB First Indian Bank to Implement Cybercrime Reporting System”
Statement 1: correct
The Reserve Bank of India has approved the establishment of the National Urban Cooperative Finance and Development Corporation (NUCFDC) to enhance the operational efficiency of Urban Cooperative Banks (UCBs) and address sector-specific challenges.
Statement 2: incorrect
The creation of the NUCFDC aims to address issues such as regulatory compliance, financial stability, and technological advancement within UCBs, rather than focusing primarily on improving financial literacy of customers, which is not its main objective.
Statement 3: correct
By strengthening the operational capacity of UCBs, the NUCFDC initiative is expected to improve their financial stability, which will contribute to the overall stability and robustness of the Indian banking sector, particularly in the urban cooperative banking space.
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What recent approval did Skydo Technologies receive from the Reserve Bank of India (RBI)?
Consider the following statements with reference to 29th Meeting of the Standing Advisory Committee (SAC) held by the RBI:
1. The meeting was chaired by Governor Shaktikanta Das.
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3. The meeting explored alternative credit assessment models and digital lending frameworks.
Mark the correct statement from the above using the codes given below:
Consider the following statements with reference to RBI and NCFE's financial literacy campaigns:
1. The campaigns primarily target individuals between 18 and 60 years of age.
2. The National Strategy for Financial Education (NSFE) provides the framework for these initiatives.
3. The goal is to enhance financial awareness and inclusion, particularly for youth and senior citizens.
Mark the correct statement from the above using the codes given below:
What is the primary objective of RBI's Self-Regulatory Organisation (SRO) framework for Account Aggregators (AA)?
How much penalty did RBI impose on Asirvad Micro Finance for regulatory violations?
Which bank has been granted permission by the Reserve Bank of India (RBI) to open a branch in Gujarat International Finance Tec-City (GIFT City)?
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2.The initiative aims to enhance cybersecurity and reduce phishing attacks.
3. Non-banking financial entities will use the domain '.Fin.in'.
Mark the correct statement from the above using the codes given below:
Important Questions from RBI
Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?
1. It decides the RBI's benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.
Select the correct answer using the code given below:
The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to
In the context of Indian economy; which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?
(1) To enable the Central Bank to control the amount of advances the banks can create
(2) To make the people’s deposits with banks safe and liquid
(3) To prevent commercial banks from making excessive profits
(4) To force the banks to have sufficient vault cash to meet their day-to-day requirements
Select the correct answer using the code given below.
If the interest rate is decreased in an economy, it will
The lowering of Bank Rate by the Reserve Bank of India leads to:
