Question

Q. Consider the following statements with reference to the aims of BASEL norms:

Which of the above given statements is/are correct?

• A.
  1 only
• B.
  2 only
• C.
  1 and 3
• D.
  1, 2 and 3

Answer 1

The correct option is D

1, 2 and 3
Explanation:

BASEL norms were introduced to set a common standard for banks across the globe. BASEL-1 were introduced in 1988 and India adopted them in 1999.

Statement 1, 2 and 3 are correct:
The BASEL norms have three aims: Make the banking sector strong enough to withstand economic and financial stress; reduce risk in the system, and improve transparency in banks