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Question

The board of financial supervision was set up in ________.

A
1994
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B
1995
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C
1996
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D
1997
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Solution

The correct option is A 1994
Due to the financial crisis and failure of large banks, to keep a close watch and supervision was required to avoid recurrence of many financial crisis. Hence, the Board for Financial Supervision was set up by RBI. The object was to pay at most attention to the supervision of the institution in the financial sector.

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