alleryStart learning →The RBI-run deposit insurance system was started in which year?
A1935
B1949
C1961
D1980
Answer & Solution
Correct answer: C. 1961
After bank failures, deposit insurance was set up on 7 December 1961 to restore trust.
Keep practising Audit of Banks
Browse all Audit of Banks questions for CA Inter, or explore more Auditing topics.
Related questions
The RBI's main supervisory aim covers which institutions?What was the Sovereign Gold Bond meant to reduce?How do non-performing loans mainly hurt a bank?What does securitization of NPLs involve?What is another name for a bad bank in NPL management?A loan is generally non-performing when interest and principal are overdue by how long?From which date did NEFT become available 24x7?Which 2007 Act gives the RBI oversight of payment systems?