| Which of the following are not included in the functions of the Department of Financial Services under the Ministry of Finance. |
| 1. Administering Government policies having a bearing on the working of banks and the term lending Financial Institutions. |
| 2. Matters relating to industrial sickness and miscellaneous issues of coordination between industry, banks and financial institutions |
| 3. Policy matters relating to private banks, foreign banks and non-banking financing companies, |
A) 2 and 3
B) 1 and 3
C) 1 and 2
D) None of the above
Correct Answer: D
Solution :
[d] Department of Financial Services is administering Government policies having a bearing on the working of banks and the term lending Financial Institutions. The Division is headed by Secretary, (Financial Services) and operates through three sub-divisions (I) Industrial Finance (II) Banking Operations and (III) Banking and Insurance. Each sub-division is headed by a Joint Secretary. Matters relating to industrial sickness and miscellaneous issues of coordination between industry, banks and financial institutions, establishment of Debts Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs), Policy matters relating to private banks, foreign banks and non-banking financing companies, Credit policy matters relating to village & cottage industries, handloom handicrafts, transport, education, small business, retail trade etc. Matters relating to selective credit control, credit guarantee corporation and administration of the Regional Rural Banks Act, 1976, negotiation and implementation of wage settlement in banking industry, man-power housing, processing of proposals for appointment of workmen employee directors, implementation of reservation policy for Scheduled Caste/Scheduled Tribes and the other specified categories is also being dealt by this Department.
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