New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Which of these are covered under Regulated Entities

    (RE): 1. All India Financial Institutions (AIFIs) 2. All Non-Banking Finance Companies (NBFCs),  3. All Payment System Providers (PSPs)/ System Participants (SPs)  4. All authorised persons (APs) including those who are agents of Money Transfer Service Scheme (MTSS), regulated by the Regulator.
    A 1 Correct Answer Incorrect Answer
    B 1,2 Correct Answer Incorrect Answer
    C 3,4 Correct Answer Incorrect Answer
    D None of the above Correct Answer Incorrect Answer
    E All of the above. Correct Answer Incorrect Answer

    Solution

    Regulated Entities” (REs) means a.all Scheduled Commercial Banks (SCBs)/ Regional Rural Banks (RRBs)/ Local Area Banks (LABs)/ All Primary (Urban) Co-operative Banks (UCBs) /State and Central Co-operative Banks (StCBs / CCBs) and any other entity which has been licenced under Section 22 of Banking Regulation Act, 1949, which as a group shall be referred as ‘banks’  b.All India Financial Institutions (AIFIs) c.All Non-Banking Finance Companies (NBFCs), Miscellaneous Non-Banking Companies (MNBCs) and Residuary Non-Banking Companies (RNBCs). d.All Payment System Providers (PSPs)/ System Participants (SPs) and Prepaid Payment Instrument Issuers (PPI Issuers) e.All authorised persons (APs) including those who are agents of Money Transfer Service Scheme (MTSS), regulated by the Regulator.

    Practice Next

    Relevant for Exams: