Current Affairs · Banking Regulation & RBI Directions

The National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) has been granted specific regulatory relaxations by the Reserve Bank of India. Based on the provisions of the NBFC - Miscellaneous Amendment Directions, 2026, which of the following statements is/are correct? 1. NUCFDC functions as an umbrella institutional framework for over 1400 Urban Co-operative Banks, and its equity subscriptions are strictly restricted to these banks and the National Co-operative Development Corporation (NCDC). 2. Under the governance framework, NUCFDC must maintain a Board-approved resource planning policy and is required to submit mandatory bi-annual reports to the RBI regarding the amount raised and subscriber details. 3. The regulatory directions enabling NUCFDC to raise capital through private placement from a larger number of investors are valid until March 31, 2029, unless extended. Select the correct option: