Multiple choice

Which of the following instructions have been issued by RBI u/s 35A of BR Act?

(a) KYC Guidelines (b) Clean Policy (c) Fraud Reporting (d) Ombudsman

  1. (a), (b)<font size="2">, (c) and</font> (d)

  2. (a), (b) and (c)

  3. (a), (b) and (d)

  4. (b), (c) and (d)

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

RBI had announced ‘Clean Note Policy’ in January 1999, for withdrawing soiled notes from circulation and pumping fresh notes into circulation u/s 35A BR Act. Also, RBI notified the Banking Ombudsman Scheme 2006 (on Dec 26, 2005) u/s 35A BR Act. KYC Guidelines were also introduced u/s 35A B R Act. Thus, only option 3 is correct.

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