Current Affairs · Banking Sector Ordinances
In June 2020, the Banking Regulation (Amendment) Ordinance, 2020 was promulgated. What was the main objective of this ordinance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To permit foreign credit institutions to easily open retail branches in India.
- 2To ease Tier-1 capital requirement norms for scheduled public sector banks.
- 3To grant regulatory powers to the RBI to appoint additional directors to scheduled commercial banks.
- 4To bring urban and multi-state cooperative banks under the supervisory oversight of the Reserve Bank of India.✓
Correct answer
To bring urban and multi-state cooperative banks under the supervisory oversight of the Reserve Bank of India.
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