📝 One-liners · 66 cards
RBI Act, BR Act, NI Act
Under which Act was the Reserve Bank of India established?
The Reserve Bank of India was established under the Reserve Bank of India Act, 1934, which came into effect on April 1, 1935.
In which year was the Reserve Bank of India Act enacted?
RBI Act was enacted in 1934.
What is the minimum paid-up capital requirement for a new private sector bank as per the Banking Regulation Act?
As per the Banking Regulation Act, 1949, the minimum paid-up capital for a new private sector bank is Rs. 500 crore as stipulated by RBI guidelines.
When did the Reserve Bank of India commence its operations?
RBI commenced operations on April 1, 1935.
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