Which of the following financial institutions is not with in the supervisory Purview of Reserve Bank of India ?
Mutual Funds
The Reserve Bank regulates and supervises banks under the Banking Regulation Act, 1949, through its Board for Financial Supervision.
Foreign banks operating in India are scheduled commercial banks under RBI supervision. Regional Rural Banks and State Co-operative Banks are also regulated by the RBI; their on-site inspection is delegated to NABARD, but they remain within the RBI's regulatory purview.
Mutual funds are regulated by the Securities and Exchange Board of India under the SEBI (Mutual Funds) Regulations, 1996, so they fall outside the supervisory purview of the RBI.
Hence, Mutual Funds.
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Important Questions from Reserve Bank of India
Which of the following is not the function of Reserve Bank of India?
Which of the following banks issues currency notes in India?
Who is the Governor of the Reserve Bank of India? (As of 2017)
Which of the following statements related to the Reserve Bank of India (RBI) is/are true?
Statements:
I. RBI was established under the Reserve Bank of India Act, 1935.
II. RBI maintains a current account of State Governments for keeping their cash balances.
III. Sir Benegal Rama Rau was the longest serving governor of RBI.
Which of the following functions of Reserve Bank of India are correct?
I. Banker to Banks
II. Currency Issuer
