Multiple choice

Board for Financial Supervision of RBI

(a) is a committee established under RBI (BFS) Regulations (b) has jurisdiction over the banking companies, nationalized banks and State banks (c) is established with a view to supervise and inspect banks (d) holds meeting every month

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

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

  3. (b), (c) and (d) are correct.

  4. (a), (c) and (d) are correct.
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A Correct answer
Explanation

The Board of Financial Supervision (BFS) was constituted in November 1994 as a committee of the Central Board of Directors. Its objective is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies. The RBI carries out its functions related to financial supervision under the guidance of BFS. The Board normally holds meeting every month. Thus, all the options are correct.

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