{"id":93595,"date":"2025-06-01T11:53:23","date_gmt":"2025-06-01T11:53:23","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=93595"},"modified":"2025-06-01T11:53:23","modified_gmt":"2025-06-01T11:53:23","slug":"the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/","title":{"rendered":"The Banking Regulation (Amendment) Bill, 2020 was passed to provide re"},"content":{"rendered":"<p>The Banking Regulation (Amendment) Bill, 2020 was passed to provide regulatory powers to the Reserve Bank of India for overseeing the functioning of which financial institution?<\/p>\n<ul>\n<li>1. Mutual funds<\/li>\n<li>2. Insurance companies<\/li>\n<\/ul>\n<p>Select the correct answer using the code given below.<\/p>\n<p>[amp_mcq option1=&#8221;Both 1 and 2&#8243; option2=&#8221;1 only&#8221; option3=&#8221;2 only&#8221; option4=&#8221;Neither 1 nor 2&#8243; correct=&#8221;option4&#8243;]<\/p>\n<div class=\"psc-box-pyq-exam-year-detail\">\n<div class=\"pyq-exam\">\n<div class=\"psc-heading\">This question was previously asked in<\/div>\n<div class=\"psc-title line-ellipsis\">UPSC Combined Section Officer &#8211; 2019-20<\/div>\n<\/div>\n<div class=\"pyq-exam-psc-buttons\"><a href=\"\/pyq\/pyq-upsc-combined-section-officer-2019-20.pdf\" target=\"_blank\" class=\"psc-pdf-button\" rel=\"noopener\">Download PDF<\/a><a href=\"\/pyq-upsc-combined-section-officer-2019-20\" target=\"_blank\" class=\"psc-attempt-button\" rel=\"noopener\">Attempt Online<\/a><\/div>\n<\/div>\n<section id=\"pyq-correct-answer\">\nNeither mutual funds nor insurance companies were brought under the purview of the Reserve Bank of India&#8217;s regulatory powers by the Banking Regulation (Amendment) Bill, 2020.<br \/>\n<\/section>\n<section id=\"pyq-key-points\">\nThe Banking Regulation (Amendment) Bill, 2020, aimed to bring cooperative banks under the direct supervision of the Reserve Bank of India. This was done to strengthen their governance, improve financial stability, and protect depositors&#8217; interests.<br \/>\n<\/section>\n<section id=\"pyq-additional-information\">\nMutual funds are regulated by the Securities and Exchange Board of India (SEBI). Insurance companies are regulated by the Insurance Regulatory and Development Authority of India (IRDAI). The 2020 amendment specifically targeted cooperative banks and did not extend RBI&#8217;s regulatory ambit to mutual funds or insurance companies.<br \/>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The Banking Regulation (Amendment) Bill, 2020 was passed to provide regulatory powers to the Reserve Bank of India for overseeing the functioning of which financial institution? 1. Mutual funds 2. Insurance companies Select the correct answer using the code given below. [amp_mcq option1=&#8221;Both 1 and 2&#8243; option2=&#8221;1 only&#8221; option3=&#8221;2 only&#8221; option4=&#8221;Neither 1 nor 2&#8243; correct=&#8221;option4&#8243;] &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"The Banking Regulation (Amendment) Bill, 2020 was passed to provide re\" class=\"read-more button\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/#more-93595\">Detailed Solution<span class=\"screen-reader-text\">The Banking Regulation (Amendment) Bill, 2020 was passed to provide re<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1090],"tags":[1483,1120,1190],"class_list":["post-93595","post","type-post","status-publish","format-standard","hentry","category-upsc-combined-section-officer","tag-2019-20","tag-economic-development","tag-money-banking","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Banking Regulation (Amendment) Bill, 2020 was passed to provide re<\/title>\n<meta name=\"description\" content=\"Neither mutual funds nor insurance companies were brought under the purview of the Reserve Bank of India&#039;s regulatory powers by the Banking Regulation (Amendment) Bill, 2020. 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The Banking Regulation (Amendment) Bill, 2020, aimed to bring cooperative banks under the direct supervision of the Reserve Bank of India. 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The Banking Regulation (Amendment) Bill, 2020, aimed to bring cooperative banks under the direct supervision of the Reserve Bank of India. This was done to strengthen their governance, improve financial stability, and protect depositors' interests.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/","og_locale":"en_US","og_type":"article","og_title":"The Banking Regulation (Amendment) Bill, 2020 was passed to provide re","og_description":"Neither mutual funds nor insurance companies were brought under the purview of the Reserve Bank of India's regulatory powers by the Banking Regulation (Amendment) Bill, 2020. The Banking Regulation (Amendment) Bill, 2020, aimed to bring cooperative banks under the direct supervision of the Reserve Bank of India. This was done to strengthen their governance, improve financial stability, and protect depositors' interests.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2025-06-01T11:53:23+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/","url":"https:\/\/exam.pscnotes.com\/mcq\/the-banking-regulation-amendment-bill-2020-was-passed-to-provide-re\/","name":"The Banking Regulation (Amendment) Bill, 2020 was passed to provide re","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2025-06-01T11:53:23+00:00","dateModified":"2025-06-01T11:53:23+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"Neither mutual funds nor insurance companies were brought under the purview of the Reserve Bank of India's regulatory powers by the Banking Regulation (Amendment) Bill, 2020. The Banking Regulation (Amendment) Bill, 2020, aimed to bring cooperative banks under the direct supervision of the Reserve Bank of India. 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