WBCS.LIVE practice question

What is the name of the new department created by the Reserve Bank of India in 2022?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Department of Artificial Intelligence
  2. Department of Fin-Tech
  3. Department of Data Science
  4. Department of Digital Currency

Correct answer and explanation

Correct answer: Department of Fin-Tech

Explanation: āœ… Correct Answer: B) Department of Fin-Tech šŸ“š Explanation: The Reserve Bank of India created a new 'Department of Fin-Tech' in 2022 to focus on the growing digital finance sector. This office helps regulate and promote financial technology in India. The move was made to keep pace with the rapid changes in how people use money online. It ensures that digital payments and banking innovations are safe and efficient for everyone.