Current Affairs · Banking Regulations and Reforms

The Banking Regulation (Amendment) Act, 2020 enhanced the RBI's authority to supervise cooperative banks. Which of the following statements accurately reflect subsequent initiatives taken to protect the interests of cooperative bank customers and improve governance? 1. RBI provides a financial protection net up to ₹5 lakh per depositor via the Deposit Insurance and Credit Guarantee Corporation (DICGC). 2. Through its public awareness campaign 'RBI Kehta Hai', the RBI regularly issues informative material detailing fraud prevention methods. 3. Following updates to the Multi-State Cooperative Societies Act, 2002, a Cooperative Ombudsman has been established under Section 85A of the Act.