With reference to the Bank Consolidation, consider the following statements:1. Bank consolidation is the process by which one banking companytakes over or merges with another.2. Narasimham Committee Report, in 2006 first recommended athree-tier banking structure in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

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With reference to the Bank Consolidation, consider the following statements:

1. Bank consolidation is the process by which one banking company takes over or merges with another.

2. Narasimham Committee Report, in 2006 first recommended a three-tier banking structure in India.

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

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

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Daily Current Affairs MCQ- September 30, 2022

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With reference to the Bank Consolidation, consider the following state...

The Reserve Bank of India (RBI) has raised concerns about bank consolidation, stating that it increases the market power of merged institutions and adversely affects financial inclusion.

Bank consolidation is the process by which one banking company takes over or merges with another.

This convergence leads to a potential expansion for the consolidating banking institution.

M Narasimham, the 13th Governor of RBI, in his report, known as Narasimham Committee Report, in 1991 first recommended a three-tier banking structure in India:
Three or four large banks (including State Bank of India) could become international in character.
Eight to ten national banks with a network of branches throughout the country, engaged in Universal banking.
Local banks should concentrate on region specific banking.
For example, Regional Rural Banks (RRBs) should focus on agriculture and rural financing.

Hence only statement 1 is correct.

Answered by Notes Wala · View profile

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With reference to the Bank Consolidation, consider the following statements:1. Bank consolidation is the process by which one banking companytakes over or merges with another.2. Narasimham Committee Report, in 2006 first recommended athree-tier banking structure in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?

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