Economics · Banking Sector Reforms
Given below are an Assertion (A) and a Reasoning (R): Assertion (A): The implementation of RegTech solutions has become a strategic necessity for modern scheduled commercial banks in India. Reasoning (R): The increasing volume of digital transactions combined with the complexity of evolving regulatory mandates like AML, KYC, and Basel III requirements makes manual compliance monitoring prone to human error, potentially leading to heavy regulatory fines and reputational damage. Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is incorrect, but (R) is correct.
- 2(A) is correct, but (R) is incorrect.
- 3Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
- 4Both (A) and (R) are correct, and (R) is the correct explanation of (A).✓
Correct answer
Both (A) and (R) are correct, and (R) is the correct explanation of (A).
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