Question

The RBI removed the prior approval requirement for non-bank entities (fintechs) to form tie-up arrangements enabling outward remittance services through banks. Under which previous framework was such approval mandated? 

A FEMA, 1999
B RBI Operating Framework, 2016
C Banking Regulation Act, 1949
D Foreign Exchange Management Act, 2015
E Payment and Settlement Systems Act, 2007
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)