Question : Which of the following institutions is responsible for regulating and supervising the functioning of foreign banks in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Securities and Exchange Board of India (SEBI)
Option 3: National Stock Exchange of India (NSE)
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 has the authority to regulate and supervise various financial institutions operating within the country, including foreign banks. The RBI formulates policies and guidelines related to foreign banks' operations, sets licensing requirements, and monitors their compliance with regulatory standards.
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