UPSC Prelims 2022·GS1·economy·money and banking

With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below:

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  1. A1 and 2 only
  2. B2 and 3 onlyCorrect
  3. C1 and 3 only
  4. D1, 2 and 3

Explanation

Statement 1 is incorrect. The Governor of the Reserve Bank of India is not the Chairman of the Banks Board Bureau (BBB). The BBB Chairman is appointed by the Appointments Committee of the Cabinet and is a separate position. Statement 2 is correct. The BBB recommends the selection of heads of public sector banks. Statement 3 is correct. The BBB helps public sector banks develop strategies and capital raising plans. Therefore, only statements 2 and 3 are correct.
economy: With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI

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