Q. Consider the following statements:
1.NABARD supervises regional rural banks as well as state and district cooperative banks.
2.SIDBI regulates the state finance corporations (SFCs).
Which of the statements given above is/are incorrect?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D
Notes:

Explanation: Several other government bodies perform quasi-regulatory functions— National Bank for Agriculture and Rural Development (NABARD), Small Industries Development Bank of India (SIDBI), and National Housing Bank (NHB).

  • NABARD supervises regional rural banks as well as state and district cooperative banks.
  • NHB regulates housing finance companies, and SIDBI regulates the state finance corporations (SFCs).

Source: Ramesh Singh

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