Economics · Banking System
Consider the following statements: Statement I: Regional Rural Banks (RRBs) are jointly owned by the Government of India, the concerned State Government, and the sponsoring commercial bank. Statement II: Cooperative banks operate only in urban areas and are completely exempted from regulation by the Reserve Bank of India. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Statement I and Statement II are correct
- 2Both Statement I and Statement II are incorrect
- 3Statement I is correct but Statement II is incorrect✓
- 4Statement I is incorrect but Statement II is correct
Correct answer
Statement I is correct but Statement II is incorrect
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