Consider the following statements regarding the cooperative banking structure in India: 1. Primary Agricultural Credit Societies (PACS) are registered under the Cooperative Societies Act of the respective State Governments and are regulated directly by the Reserve Bank of India. 2. Urban Cooperative Banks (UCBs) are supervised and regulated under a dual-control mechanism by both the Reserve Bank of India and the Registrar of Cooperative Societies. 3. The Banking Regulation (Amendment) Act, 2020, brought cooperative banks under the direct regulatory supervision of the RBI regarding management, capital adequacy, and audit. Which of the statements given above are correct?
Options:
- A: 1 and 2 only
- B: 2 and 3 only
- C: 1 and 3 only
- D: 1, 2 and 3
Related Practice Questions:
- Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R): Assertion (A): The Cabinet Mission Plan of $1946$ officially recommended the immediate partition of India into two separate sovereign nations. Reason (R): The Mission concluded that a separate state of Pakistan would not solve the communal minority problem and would create serious defense and communication complications. In the context of the above statements, which of the following is correct?
- Who was the Premier of Bengal during the Direct Action Day riots in $August \text{ } 1946$$, who faced severe criticism for his administration's failure to control the violence?
- In which of the following districts of East Bengal did Mahatma Gandhi spend nearly $4$ months from $November \text{ } 1946$ to $March \text{ } 1947$ to restore communal harmony after the outbreak of horrific riots?
- Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R): Assertion (A): The Muslim League withdrew its acceptance of the Cabinet Mission Plan on $29 \text{ July } 1946$ and passed the 'Direct Action' resolution. Reason (R): Jawaharlal Nehru's press conference on $10 \text{ July } 1946$ stated that the Congress was completely free to change or modify the Cabinet Mission Plan in the Constituent Assembly. In the context of the above statements, which of the following is correct?