Which of the following points is/are "correct" with respect to the recent step taken by the Reserve Bank of India (RBI) in September 2023?
A) RBI issued the RBI (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023 which will be applicable w.e.f. April 1, 2024.
B) These were issued by RBI in exercise of powers conferred by Section 45L of the RBI Act, 1934.
C) RBI canceled the license of the Nashik Zilla Girna Sahakari Bank Limited, in Nashik, Maharashtra, since the bank did not have adequate capital and earning prospects.
1
Only A
2
Only A & B
3
Only A & C
4
Only B & C
5
All A, B & C