Q. Centre for Advanced Financial Research and Learning (CAFRAL) is an independent body established by the Reserve Bank of India. Which one of the following best describes its function?

[A] It provides investment advice and manage assets of the Non-Banking Financial Company (NBFCs).

[B] It assists the Reserve Bank of India (RBI) in regulatory and supervisory activities.

[C] It offers financial services such as insurance to the public.

[D] It provides training and education to researchers, policymakers, and practitioners in banking and finance.

Answer: D
Notes:

Explanation – The Centre for Advanced Financial Research and Learning (CAFRAL) is an independent body set up by the Reserve Bank of India (RBI) in 2005. It is a non-profit research institution dedicated to promoting high-quality research and learning in banking and finance. CAFRAL is located in Mumbai. CAFRAL’s primary goal is to advance research and learning in the fields of banking and finance. It strives to achieve this objective by conducting high-quality research, fostering collaboration among researchers, and providing training and education opportunities. It conducts research and provides insights into India’s financial sector, including non-bank financial companies (NBFCs).

Source: ForumIAS

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