With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below:
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A hard Economy multiple-choice question from UPSC Prelims 2022. Attempt it above, then check the correct answer and detailed explanation below.
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Correct answer: B. 2 and 3 only
Statement 1 is wrong — the RBI Governor is not the Chairman of the BBB. Statements 2 and 3 are correct — the BBB recommends the selection of heads of public-sector banks and helps them develop business strategies and capital-raising plans. So 2 and 3 only — option (b).
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