Question

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?

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

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

C It relaxes Tier-1 capital related norms for banks.

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

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