Economics · Economy
Consider the following statements regarding the Indian Financial System: Statement I: The Reserve Bank of India (RBI) serves as the primary regulator for the banking sector and acts as the monetary authority of India under the RBI Act, 1934. Statement II: Development Financial Institutions (DFIs) like NABARD and NHB focus primarily on short-term commercial lending to urban retail consumers. Statement III: The Banking Regulation Act, 1949 empowers the RBI to license banks, supervise their operations, and order their amalgamation or liquidation. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II and III
- 2Only I and III✓
- 3Only I and II
- 4Only I
Correct answer
Only I and III
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Economy MCQs →Want more practice questions on Economy?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Economy