The correct answer is C. Mutual Funds.
The Reserve Bank of India (RBI) is the central bank of India. It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI is the banker to the government of India and the banker’s bank. It is also the issuer of the Indian rupee.
The RBI has the power to regulate and supervise all financial institutions in India, including commercial banks, regional rural banks, state co-operative banks, and mutual funds. However, mutual funds are not within the supervisory purview of the RBI. This is because mutual funds are regulated by the Securities and Exchange Board of India (SEBI).
SEBI is the regulator of the securities market in India. It was established on April 12, 1992, in accordance with the Securities and Exchange Board of India Act, 1992. SEBI is responsible for protecting the interests of investors in the securities market and for promoting the development of the securities market.
Mutual funds are companies that pool money from investors and invest it in a variety of assets, such as stocks, bonds, and other securities. Mutual funds are regulated by SEBI to ensure that they are operated in a fair and transparent manner. SEBI also requires mutual funds to disclose their investment objectives, strategies, and risks to investors.
In conclusion, the correct answer to the question “Which of the following financial institutions is not within the supervisory purview of RBI?” is C. Mutual Funds.