In June 2020 the President of India promulgated the Banking Regulation Amendment Ordinance 2020 Whic...........

General Studies (MTS) Indian Polity

In June 2020, the President of India promulgated the Banking Regulation (Amendment) Ordinance, 2020. Which of the following

is the main feature of this ordinance?

This questions was previously asked in

SSC MTS 2nd Nov 2021 Shift-2

It brings urban and multi-state cooperative banks under the supervision of the Reserve Bank of India.

It gives greater regulating powers to the Reserve Bank of India by the way of appointing more Directors to the
Board of scheduled banks.

It relaxes Tier-1 capital related norms for banks.

It allows foreign lending institutions to set up their branches in India.

It brings urban and multi-state cooperative banks under the supervision of the Reserve Bank of India.

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