Multiple choice

Under provisions of which of the following acts does the Reserve Bank of India have the power to regulate, supervise and control the banking sector?

  1. RBI Act

  2. Banking Regulation Act

  3. Negotiable Instrument Act

  4. RBI and Banking Regulation Act

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The RBI's regulatory, supervisory, and control powers over the banking sector come from both the RBI Act 1934 and the Banking Regulation Act 1949. The Banking Regulation Act gives comprehensive powers to regulate banking companies, while the RBI Act establishes the RBI's central role.

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