Attempt this previous-year question. The correct option stays hidden until you choose.
With reference to ‘Urban Cooperative Banks’ in India, consider the following statements:
1. They are supervised and regulated by local boards set up by the State Governments.
2. They can issue equity shares and preference shares.
3. They were brought under the purview of the Banking Regulation Act, 1949 through an Amendment in 1966.
Which of the statements given above is/are correct?
Pick an option to check yourself.
• Correct Answer: B
• UCBs are regulated by RBI under Banking Regulation Act, 1949 (amended 1966), not merely state boards.
• Banking Regulation (Amendment) Act, 2020 permits UCBs to issue equity and preference shares with RBI approval.
Attempt Prelims MCQs or open Mains questions by paper — then continue the same bank inside the app with visual decks.
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