What are all the new powers of Reserve Bank of India, as per the Finance Bill 2019 presented during the Union Budget 2019?i. Resolution of NBFCsii. Removal of Directors andamp; Supersession of boardiii. More Powers to regulate NBFCsiv. Regulation of Housing Finance Companies (HFCs) moved from National Housing Bank (NHB) to Reserve Bank of India (RBI)v. Debarment of Auditorsa)Both i andamp; iib)Both ii, iii andamp; ivc)Both I, iv,vd)All the abovee)None of theseCorrect answer is option 'D'. Can you explain this answer?

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What are all the new powers of Reserve Bank of India, as per the Finance Bill 2019 presented during the Union Budget 2019?
i. Resolution of NBFCs
ii. Removal of Directors & Supersession of board
iii. More Powers to regulate NBFCs
iv. Regulation of Housing Finance Companies (HFCs) moved from National Housing Bank (NHB) to Reserve Bank of India (RBI)
v. Debarment of Auditors

a)
Both i & ii
b)
Both ii, iii & iv
c)
Both I, iv,v
d)
All the above
e)
None of these

Correct answer is option 'D'. Can you explain this answer?

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What are all the new powers of Reserve Bank of India, as per the Finan...

The Finance Bill 2019, one of the documents of the Union Budget 2019-20, gave certain powers to the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).More Powers to regulate NBFCs: It has given greater powers to regulate Non-Banking Finance Companies (NBFCs) including powers to seek financial and related information about the group companies. Regulation of HFCs moved from NHB to RBI: The National Housing Bank (NHB) Act, 1987 was amended to take away regulation authority over the Housing Finance Companies (HFCs) from NHB and to RBI. Removal of Directors & Supersession of board: Section 45-ID and 45-IE were added to the RBI Act, 1934. It empowers RBI to remove one director or supersede the entire board of directors in the public interest or financial stability or securing ‘proper’ management or prevent affairs of a NBFC being conducted in a manner detrimental to depositors /creditors. Resolution of NBFCs: Under newly inserted section 45MBA, RBI is empowered to frame schemes to amalgamate an NBFC with any other NBFC or reconstruct it, or split the NBFC into different units. Non-uniform approach and a missed opportunity: These are the extreme provisions empowering the governments/regulators to interfere in legitimate businesses in an emergency. Debarment of Auditors: RBI, has been provided an explicit power to remove or debar the auditor from exercising the duties as auditor of any RBI regulated entities for a maximum period of three years, at a time.

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What are all the new powers of Reserve Bank of India, as per the Finance Bill 2019 presented during the Union Budget 2019?i. Resolution of NBFCsii. Removal of Directors & Supersession of boardiii. More Powers to regulate NBFCsiv. Regulation of Housing Finance Companies (HFCs) moved from National Housing Bank (NHB) to Reserve Bank of India (RBI)v. Debarment of Auditorsa)Both i & iib)Both ii, iii & ivc)Both I, iv,vd)All the abovee)None of theseCorrect answer is option 'D'. Can you explain this answer?

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