Identify, which of the following statements is incorrect about the Rural Banking system in India. (Choose the correct option)
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- 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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The Correct Option is D
Solution and Explanation
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