Economics · Banking Sector and Regulation
The Banking Codes and Standards Board of India (BCSBI), which was dissolved in 2021, was set up as an autonomous and independent body primarily to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Regulate the interest rates offered by commercial banks to retail customers.
- 2Handle individual customer complaints and grievances, replacing the Banking Ombudsman.
- 3Function as an independent watchdog to monitor and ensure banks adhered to the Code of Bank's Commitment to Customers.✓
- 4Act as a subsidiary of the Reserve Bank of India (RBI) to issue statutory guidelines.
Correct answer
Function as an independent watchdog to monitor and ensure banks adhered to the Code of Bank's Commitment to Customers.
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
Preparing for Economics?
Practice full-length Economics mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking Sector and Regulation MCQs →Want more practice questions on Banking Sector and Regulation?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Banking Sector and Regulation