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Question

Consider the following statement:

  1.   The supervision of financial sector entities is undertaken through three separate departments.
  2. The regulatory functions relating to financial sector entities are carried out through two separate departments.
  3. Department of Banking Supervision, Department of Non-Banking Supervision and Department of Co-operative Bank Supervision will supervise the financial sector entities. (STATIC)

Which of the above statement is/are not correct?

A I only Correct Answer Incorrect Answer
B II only Correct Answer Incorrect Answer
C III only Correct Answer Incorrect Answer
D I and II only Correct Answer Incorrect Answer
E II and III only Correct Answer Incorrect Answer

Solution

Currently, the supervision of financial sector entities is undertaken through three separate departments, viz., Department of Banking Supervision, Department of Non-Banking Supervision and Department of Co-operative Bank Supervision. Similarly, the regulatory functions relating to financial sector entities are carried out through three separate departments, viz., Department of Banking Regulation, Department of Non-Banking Regulation and Department of Cooperative Banking Regulation.  

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