Subsidiaries — Set 3
Banking · सहायक कंपनियां · Questions 21–30 of 50
Which subsidiary of RBI is responsible for managing the INFINET (Indian Financial Network)?
Correct Answer: C. IFTAS
IFTAS maintains the INFINET, which is a closed user group network for the exclusive use of the Indian banking and financial sector. It provides the reliable communication channel needed for inter-bank transactions and data transfer. This network is vital for the smooth functioning of the payment systems.
What is the primary focus of the 'Cyber Lab' established by ReBIT?
Correct Answer: B. Simulating and defending against cyber attacks
The Cyber Lab at ReBIT is used to conduct advanced security testing and research on cyber threats. It allows the RBI to stay ahead of hackers by simulating potential attack scenarios in a controlled environment. This enhances the overall cyber resilience of the Indian banking infrastructure.
Which of the following is NOT a current wholly owned subsidiary of the RBI?
Correct Answer: A. NABARD
NABARD is now 100% owned by the Government of India after the RBI exited its stake in 2019. DICGC, BRBNMPL, and ReBIT are still wholly owned by the RBI. This separation ensures that the regulator does not own the entities it supervises.
The subsidiary BRBNMPL produces its own ______ to ensure high security in banknote printing.?
Correct Answer: C. Ink and Paper
BRBNMPL has established its own ink manufacturing unit called 'Varnika' and a paper mill to maintain self-reliance. This reduces dependency on foreign suppliers for critical raw materials. Controlling the supply chain is essential for preventing the leakage of security features.
Which subsidiary assists RBI in the technical audit of Payment System Operators?
Correct Answer: C. ReBIT
ReBIT provides the technical expertise required to audit the IT systems of payment giants and banks regulated by the RBI. It ensures that these systems are robust, scalable, and secure against failures. This technical oversight is a key part of the RBI's supervisory function.
What is the significance of the Mysuru and Salboni locations for RBI's subsidiaries?
Correct Answer: D. Locations of currency printing presses
Mysuru (Karnataka) and Salboni (West Bengal) are the two locations where BRBNMPL operates its banknote printing presses. These presses handle the majority of the banknote requirements of the country. They are high-security zones directly under the control of the RBI subsidiary.
Does DICGC provide insurance for the deposits of Central and State Governments?
Correct Answer: C. No, they are exempted from coverage
The correct answer is 'No, they are exempted from coverage'. DICGC does not insure deposits belonging to Central or State governments. It also excludes deposits of foreign governments and inter-bank deposits. The core purpose of the corporation is to protect the interests of small individual depositors.
Which RBI subsidiary is involved in 'Financial Cryptography' research?
Correct Answer: A. ReBIT
ReBIT conducts research in financial cryptography to enhance the security of digital transactions in India. This involves developing encryption standards that protect sensitive financial data. Such research is crucial for the safety of the growing digital economy.
Which subsidiary of RBI maintains the data center for the Indian Financial Network?
Correct Answer: A. IFTAS
IFTAS is responsible for the operations and maintenance of the data centers that power INFINET. These centers ensure high availability and disaster recovery for critical inter-bank messaging. This infrastructure is essential for the 24/7 availability of payment systems like NEFT.
The formation of RBIH was a step towards promoting which type of finance?
Correct Answer: A. Inclusive Digital Finance
The Reserve Bank Innovation Hub (RBIH) focuses on creating a frictionless and inclusive digital finance ecosystem. It works on projects like digital lending to small farmers to ensure credit reaches the last mile. This supports the goal of providing affordable financial services to all.