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The Reserve Bank of India released guidelines for outsourcing, targeted at which category of banks?
A)
Cooperative Banks
B)
Foreign Banks
C)
Local Area Banks
D)
Regional Rural Banks

Correct Answer : Option (A) - Cooperative Banks


The Reserve Bank of India released guidelines for co-operative banks to manage risks that could arise from outsourcing of financial services.
As per the guidelines, the bank should retain the core control of outsourced activities and make the outsourcing as per guidelines within six months. It also said the CEO and the senior management of co-operative banks would be responsible for evaluating risks of all outsourcing activities.

Published On : July 18, 2021
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