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      Question

      The Financial Services Institutions Bureau (FSIB),

      constituted in July 2022, was set up by the Government of India with which of the following primary objectives?
      A To regulate all financial institutions in India Correct Answer Incorrect Answer
      B To recommend appointments of senior officials to the Boards of financial institutions Correct Answer Incorrect Answer
      C To provide direct credit support to banks and NBFCs Correct Answer Incorrect Answer
      D To monitor compliance of financial institutions with RBI guidelines Correct Answer Incorrect Answer
      E To oversee foreign investment inflows into Indian financial markets Correct Answer Incorrect Answer

      Solution

      The Financial Services Institutions Bureau (FSIB) was established by the Central Government effective July 1, 2022. It serves as the successor to the earlier Banks Board Bureau (BBB). Key role of FSIB: • To recommend persons for appointment as whole-time directors and non-executive chairpersons on the Boards of financial services institutions. • To advise on personnel management matters, including leadership succession planning and talent management within financial institutions. • FSIB does not regulate financial institutions; that remains the domain of RBI, SEBI, and other regulators.  Correct Answer: To recommend appointments of senior officials to the Boards of financial institutions (Option 2)

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