Question:
Identify, which of the following statements is incorrect about the Rural Banking system in India. (Choose the correct option)
Identify, which of the following statements is incorrect about the Rural Banking system in India. (Choose the correct option)
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The RBI plays the key role in regulating the Rural Banking system in India, not the State Bank of India.
Updated On: Jun 30, 2025
- The Rural Banking system in India consists of a set of multi-agency institutions.
- In the post-independence period, a well-structured Rural Banking system was formulated in India.
- Regional Rural Banks, Cooperative and Land Development Banks are components of the Rural Banking system in India.
- The Rural Banking system in India works under the guidance, instruction and supervision of the State Bank of India.
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The Correct Option is D
Solution and Explanation
The Rural Banking system in India does not work under the direct guidance and supervision of the State Bank of India. Instead, it operates under the supervision of the Reserve Bank of India (RBI), which ensures the efficient functioning of various rural banking institutions like Regional Rural Banks (RRBs) and cooperative banks.
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