Consider the following statements about Differentiated Bank 1 It is formed with a special objective ...........

Economic Affairs Types of Banks and Banking

Consider the following statements about Differentiated Bank.

1. It is formed with a special objective, which is known as niche bank.

2. Regional rural banks (RRBs) can be considered to be one form of these banks, concentrating on agriculture in a narrow well defined area.

3. This type of bank was first recommended by the BimalJalancommittee on financial sector reforms

How many of the statements given above are correct?

Only One

Only Two

All Three

None

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Explanation:

1 and 2 only

It is formed with a special objective, which is known as a niche bank: This statement is correct. Differentiated banks are formed with a specific objective, often focusing on a niche or specialized area.

Regional rural banks (RRBs) can be considered to be one form of these banks, concentrating on agriculture in a narrow well-defined area: This statement is correct. Regional Rural Banks (RRBs) are a type of differentiated bank that focuses on rural and agricultural financing in specific regions.

This type of bank was first recommended by the Bimal Jalan committee on financial sector reforms: This statement is not correct. The concept of differentiated banks was first recommended by the Nachiket Mor Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, not the Bimal Jalan committee.