Economics · Banking and Finance
Consider the following statements about the RBI's framework for Self-Regulatory Organizations (SROs): 1. SROs must have an independent board and derive authority from Articles of Association or membership agreements. 2. SROs are empowered to impose monetary penalties on members for unethical conduct. 3. They must ensure grievance redressal, sector development, and transparency in dispute resolution. 4. SROs act as a liaison between RBI and members, reporting violations and participating in consultations. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, 3, and 4
- 21 and 2 only
- 32 and 4 only
- 41, 3, and 4 only✓
Correct answer
1, 3, and 4 only
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