Which of the following points is/are “correct” with respect to the Report on Trend and Progress

of
Banking in India (2022-2023) released by the Reserve Bank of India (RBI) in December 2023?
A) The remuneration of Managing Director(MD) and Chief Executive Officer(CEO) of SFBs
was 28.4
times the average employee pay in 2022.
B) The RBI revealed that grievances related to loans and advances, deposits increased
exponentially to
60%, 70% respectively at the Reserve Bank of Ombudsman.
C) The total number of Automated Teller Machines (ATMs) in India increased by 3.5% in
FY22.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & C
Answer- 3) Only B & C
Explanation:
The Reserve Bank of India (RBI) released the report titled “Report on Trend and Progress of
Banking in India”
(2022-2023).
• The report provides comprehensive data about the state of the banking system in India.
i. As per the RBI report, the gap in the remuneration between top executives and average
employees is widest
for Small Finance Banks (SFBs).
• It mentioned that remuneration of Managing Director(MD) and Chief Executive Officer(CEO)
of SFBs
was 58.1 times the average employee pay in 2022.
• Compared to SFBs, remuneration of MD and CEO of Private Sector Banks(PVSBs), Public Sector
Banks(PSBs) was 26.1 times and 2.4 times of average employee pay in 2022.
• For Private Sector Banks (PVBs), the share of variable pay in total remuneration increased
from 31 %(
at March-end 2021) to 39 %( at March-end 2022).
ii. According to the report, RBI urged the Urban Co-operative Banks(UCBs) that they