Multiple choice

The objective of enacting Banking Regulation Act was to

  1. regulate banking companies

  2. create banking system

  3. regulate acceptance of deposits from public

  4. All of the above

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

The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India.The Act provides a framework using which commercial banking in India is supervised and regulated. Thus, option 1 is the correct answer.