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Consider the following statements regarding National Urban Co-operative Finance and Development Corporation (NUCFDC):
  1. The NUCFDC was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI).
  2. The NUCFDC is registered under the Multi State Co-operative Societies Act.
  3. It provides financial assistance through State Channelizing Agencies (SCAs) nominated by the State Governments/UTs.
How many of the given above statement(s) is/are correct?
  • a)
    Only one 
  • b)
    Only two 
  • c)
    All three 
  • d)
    None
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding National Urban Co-operativ...
  • Statements 1 and 3 are correct.
  • Context: The Home Minister launched the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), serving as the umbrella organization for Urban Cooperative Banks (UCBs).
    • The initiative aims to modernize and strengthen the UCB sector, benefiting both banks and customers.
  • The National Urban Co-operative Finance and Development Corporation (NUCFDC) was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI)
  • NUCFDC is registered with the RBI as a non-deposit-taking Non-Banking Financial Company (NBFC), and UCBs can voluntarily subscribe to its capital
  • The key objectives of NUCFDC include expanding the number of credit societies and UCBs, facilitating dialogue between banks and regulators, providing liquidity to UCBs, establishing IT infrastructure for shared use by members to enhance service offerings, and more.
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Consider the following statements regarding National Urban Co-operative Finance and Development Corporation (NUCFDC): The NUCFDC was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI). The NUCFDC is registered under the Multi State Co-operative Societies Act. It provides financial assistance through State Channelizing Agencies (SCAs) nominated by the State Governments/UTs.How many of the given above statement(s) is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding National Urban Co-operative Finance and Development Corporation (NUCFDC): The NUCFDC was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI). The NUCFDC is registered under the Multi State Co-operative Societies Act. It provides financial assistance through State Channelizing Agencies (SCAs) nominated by the State Governments/UTs.How many of the given above statement(s) is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding National Urban Co-operative Finance and Development Corporation (NUCFDC): The NUCFDC was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI). The NUCFDC is registered under the Multi State Co-operative Societies Act. It provides financial assistance through State Channelizing Agencies (SCAs) nominated by the State Governments/UTs.How many of the given above statement(s) is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding National Urban Co-operative Finance and Development Corporation (NUCFDC): The NUCFDC was established based on the recommendation of the Vishwanathan Committee on Primary (Urban) Co-operative Banks, formed by the Reserve Bank of India (RBI). The NUCFDC is registered under the Multi State Co-operative Societies Act. It provides financial assistance through State Channelizing Agencies (SCAs) nominated by the State Governments/UTs.How many of the given above statement(s) is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
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