Module: | Priority Sector, Consumer Protection & Digital Lending
Q131: Which of the following statements regarding the Standing Sub-Group of the Technical Working Group (TWG) are correct?
1. The Sub-Group functions as an advisory and collaborative body on technical aspects of credit information reporting.
2. The Sub-Group is required to meet at least on a half-yearly basis.
3. The Sub-Group's primary role is to publish the annual Data Quality Index (DQI).
4. The Sub-Group is required to meet at least once in a quarter.
Which of the statements given above is/are correct?
2. The Sub-Group is required to meet at least on a half-yearly basis.
3. The Sub-Group's primary role is to publish the annual Data Quality Index (DQI).
4. The Sub-Group is required to meet at least once in a quarter.
Which of the statements given above is/are correct?
✅ Correct Answer: A
The correct answer is A. Statement 1 is correct: The Standing Sub-Group of the TWG acts as a dedicated advisory and collaborative body specifically handling the granular technical aspects of credit information reporting formats and implementation.
Statement 2 is correct: Regulatory guidelines mandate that this Sub-Group must convene and meet at least on a half-yearly basis to ensure continuous technical alignment.
Statement 3 is incorrect because publishing the DQI is the operational responsibility of individual CICs (done monthly), not the Sub-Group.
Statement 4 is incorrect because the legally mandated minimum meeting frequency is half-yearly, not quarterly.
Statement 2 is correct: Regulatory guidelines mandate that this Sub-Group must convene and meet at least on a half-yearly basis to ensure continuous technical alignment.
Statement 3 is incorrect because publishing the DQI is the operational responsibility of individual CICs (done monthly), not the Sub-Group.
Statement 4 is incorrect because the legally mandated minimum meeting frequency is half-yearly, not quarterly.