Question : Which of the following institutions is responsible for regulating and supervising the functioning of co-operative banks in India?
Option 1: Reserve Bank of India (RBI)
Option 2: National Bank for Agriculture and Rural Development (NABARD)
Option 3: Securities and Exchange Board of India (SEBI)
Option 4: None of the above
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct answer is (a) Reserve Bank of India (RBI)
The Reserve Bank of India (RBI) is the central banking institution of India and is responsible for regulating and supervising various financial institutions, including co-operative banks. The RBI oversees the functioning of co-operative banks to ensure compliance with regulatory guidelines, maintain stability, and protect the interests of depositors.
