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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RBI and NABARD regulate and supervise rural banks — not SBI.
Updated On: Jul 1, 2025
- In the post-independence period, a well-structured Rural Banking system was formulated in India.
- Rural Banking system in India consists of a set of multi-agency institutions.
- Regional Rural Banks, Cooperative and Land Development Banks are few important components of Rural Banking system in India.
- Rural Banking system in India works under the guidance, instruction and supervision of the State Bank of India.
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Verified By Collegedunia
The Correct Option is D
Solution and Explanation
Statement (D) is incorrect because the Rural Banking system in India is supervised by the Reserve Bank of India (RBI) and NABARD, not by the State Bank of India (SBI). The other statements are factually correct.
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