Question
Download Solution PDFThe Reserve Bank of India raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs _______ crore in October 2022.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Option 2.
Key Points
- On October 11, 2022, the Reserve Bank of India (RBI) raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from the existing Rs 100 crore.
- The Reserve Bank of India (RBI) is the central bank of India, responsible for the formulation and implementation of monetary policy in the country.
- The RBI performs various functions and roles, including:
- Monetary Policy
- Currency Issuance
- Banking Regulation and Supervision
- Foreign Exchange Managemen
- Developmental Function
- Financial Stability
Last updated on May 28, 2025
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