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Question
A department of supervision has been set up in the RBI with effect from _____.
A department of supervision has been set up in the RBI with effect from _____.
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Solution
The correct option is D 22nd December, 1993
Due to the financial crisis and failure of large banks, to keep a close watch, supervision was required to avoid recurrence of any financial crisis. Hence, the Board for Financial Supervision was set up by the RBI. The object was to pay most attention to the supervision of the institution in the financial sector.
Due to the financial crisis and failure of large banks, to keep a close watch, supervision was required to avoid recurrence of any financial crisis. Hence, the Board for Financial Supervision was set up by the RBI. The object was to pay most attention to the supervision of the institution in the financial sector.
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