Question

How is the function and structural context of "Universal Banks" defined?

A Financial institutions designed to work within a restricted geographical area to foster rural savings.
B Multi-functional financial institutions permitted to offer a comprehensive range of financial services (e.g., commercial banking, investment banking, and development finance) under a single umbrella.
C Niche banks licensed exclusively under Section 22 of the Banking Regulation Act to serve micro-industries without taking demand deposits.
D Financial bodies that are exempt from the Capital Adequacy Ratio (CAR) guidelines set by the RBI.
E Cooperatives that do not qualify as "Indian Companies" under the Companies Act.
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