Assertion: The Central Bank as a Supervisor regulates and controls the commercial banks. The control is exercised by periodic inspection of banks and the returns filed by them.
Reason: The RBI has fined IndusInd Bank Rs.4.5 crore for non-compliance of certain norms like Exposure norms, Prudential Norms on Income Recognition etc.. among others. RBI has clarified that the deficiencies were in regulatory compliance and not in customer bank transactions. ---- The Financial Express, 18 October 2020.
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assertion and reason both are true but reason is not correct explaination of assertion
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