Consider the following statements regarding Network for Greening of the Financial System (NGFS)1. It was set up during the Paris ‘One Planet Summit’ for central banks and supervisors2. The Reserve Bank of India (RBI) is not a member in NGFS Which of the above statement is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

About NGFS

It was set up during the 2017 Paris ‘One Planet Summit’ for central banks and supervisors to share best practices in climate-related risk management practices.
The network already has 95 central banks as members and 15 multilateral financial institutions as observers.
The Reserve Bank of India (RBI) joined NGFS in April 2021.