Consider the following statements about reforms taken by the government in banking sector ndash 1 nb...........

Economic Affairs Industrial Sickness

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Consider the following statements about reforms taken by the government in banking sector –

1. Setting up of Bank Board Bureau.

2. Splitting of CMD’s post into a non-executive Chairman and CEO.

3. Creation of CRILC (Central Repository of Information on Large Credits).

4. Implementation of Insolvency and Bankruptcy Code, 2016.

Which of the statements given above is/are correct?

1, 2, and 3 only

3 and 4 only

4 only

1, 2, 3 and 4

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Explanation:

- Statement 1: Setting up of the Bank Board Bureau was indeed a reform aimed at improving governance in public sector banks.

- Statement 2: The splitting of the CMD's post into a non-executive Chairman and CEO aimed to separate the decision-making roles and governance within banks, addressing accountability and management efficiency.

- Statement 3: Creation of the Central Repository of Information on Large Credits (CRILC) was a step to monitor large exposures of banks and prevent loan defaults.

- Statement 4: The Insolvency and Bankruptcy Code, 2016 aimed at faster resolution of insolvencies and stressed assets in the banking sector, crucial for financial stability.

All statements listed are indeed correct reforms undertaken in the banking sector by the government.

Option 4: 1, 2, 3 and 4 is the correct choice as it includes all the mentioned reforms.