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BRBL in 7 DAYS _ CAIIB SYLLABUS PRIORITY
What is the primary legislation governing banking regulation in India?
The Banking Regulation Act, 1949 is the primary legislation governing banking companies in India, providing RBI with powers to regulate, supervise, and control banking operations.
What is the significance of Section 35A of the Banking Regulation Act, 1949?
It empowers RBI to give directions to banking companies in public interest.
Under which section of the Banking Regulation Act can RBI issue directions to banks?
RBI issues directions to banks under Section 35A of the Banking Regulation Act, 1949, which empowers it to give directions in the public interest or to prevent affairs of banks being conducted in a manner detrimental to depositors.
What is the minimum paid-up capital required for a new private sector bank in India?
Minimum paid-up capital is Rs. 500 crore as per RBI guidelines.
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