The responsibility of regulating and supervising primary (urban) cooperative banks, which are popularly known as Urban Cooperative Banks (UCBs) is vested with which one of the following?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. The Urban Banks Department of the Reserve Bank of India.
1. While overseeing the activities of 1926 primary (urban) cooperative banks, the Urban Banks Department performs three main functions: regulatory, supervisory and developmental.
2. The Department performs these functions through its 17 regional offices.