The correct answer is: B. Central Bank governors of the group of 10 countries.
The Basel Committee on Banking Supervision (BCBS) is an international committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. The
BCBS is responsible for developing and promoting sound banking practices and for overseeing the implementation of those practices by its member countries.The BCBS is made up of representatives from the central banks and supervisory authorities of 28 countries, including the United States, the United Kingdom, Japan, Germany, France, Italy, Canada, Switzerland, Belgium, the Netherlands, Sweden, Denmark, Norway, Finland, Spain, Portugal, Ireland, Austria, Luxembourg, Greece, and Turkey.
The BCBS’s work is carried out through a number of committees and working groups, which meet regularly to discuss issues related to banking supervision. The BCBS also publishes a number of reports and recommendations, which are intended to help its member countries strengthen their banking systems.
The BCBS’s work has been influential in promoting sound banking practices around the world. Its recommendations have been adopted by many countries, and its reports have been widely read and discussed by banking supervisors and policymakers. The BCBS has played a key role in strengthening the global financial system and in preventing financial crises.
The other options are incorrect because:
- Option A is incorrect because the RBI is the central bank of India. The Basel Committee on Banking Supervision is an international committee, not a national one.
- Option C is incorrect because the United States of America is a country, not a group of countries. The Basel Committee on Banking Supervision is made up of representatives from 28 countries.
- Option D is incorrect because European countries are a group of countries, not a single country. The Basel Committee on Banking Supervision is made up of representatives from 28 countries, including European countries.