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BR Act Updates 3 Nov 2025
What is the full form of BR Act as applicable to banking regulation in India?
BR Act stands for the Banking Regulation Act, 1949, which governs the licensing, regulation, and supervision of banking companies in India by the Reserve Bank of India.
What does Section 5(c) of the BR Act define as a 'banking company'?
Company transacting business of banking in India
Which section of the BR Act empowers RBI to issue directions to banks on matter of public interest?
Section 35A of the Banking Regulation Act, 1949 empowers RBI to issue directions to banking companies in the public interest, interest of banking policy, or to prevent affairs of any bank being conducted in a manner detrimental to depositors.
Which authority grants a licence to a banking company to commence banking business?
Reserve Bank of India grants banking licences
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