Multiple choice

Banking operations in India are governed mainly by which of the following?

  1. Banking Regulation Act, NI Act and RBI

  2. RBI Act, NI Act and RBI

  3. Banking Regulation Act, RBI Act and RBI

  4. Banking Regulation Act, RBI Act and SEBI

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

RBI was established in 1935. It was nationalised in 1949. It plays the role of regulator of the banking system in India. The Banking Regulation Act, 1949 and the RBI Act, 1953 has given RBI the power to regulate the banking system.