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● Statement 1 is correct: The RBI undertakes the responsibility of controlling credit created by commercial banks through quantitative and qualitative techniques to control and regulate the credit flow in the country. When RBI observes that the economy has sufficient money supply and it may cause an inflationary situation in the country then it squeezes the money supply through its tight monetary policy and vice versa. ● Statement 2 is correct: Section 45 of Banking Regulation Act 1949 empowers the Reserve Bank to make a scheme of amalgamation of a bank with another bank if it is in the depositors' interest or in the interest of the overall banking system. Many private sector banks have been merged with other private sector banks or the PSBs under this mechanism. The power of winding up of banks lies in the hand of the Reserve bank of India. The Banking (Regulation) Act, 1949 provision from Section 38 to 44 deals with the winding up procedure for banks.
The least populated district of India as per 2011 Census is located in which of the following states?
What was the growth rate in India's total coking coal imports in Q1FY25 compared to the previous fiscal period?
In which state did the Joint Military Exercise 'Desert Cyclone 2024' between India and UAE take place, and what is the primary focus of this exercise?
Which of the following is/are not true with respect to India's trade deficit,imports & exports ?
I.According to the data provided by the governme...
The Reserve Bank has imposed a penalty of ______ on Chennai-based The Tamil Nadu State Apex Co-operative Bank, for contravention of various norms.
In January 2021, who among the following was appointed as the President of the Asian Cricket Council?
What global ranking does India hold in biotech?
Who is known as ‘Mr Tomboy’ and secured a historic bronze medal for India in eFootball at the 2024 Asian Esports Games?
Amazon India has signed an MoU with which state for turning rural women into entrepreneurs?
According to the RBI’s Quarterly BSR-1 report, what was the y-o-y growth rate of bank credit in September 2024?