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CAIIB BRBL LIVE Class 1 By Ashish Sir
What is the primary legislation governing the establishment and functioning of banking companies in India?
The Banking Regulation Act, 1949 is the primary legislation governing banking companies in India, prescribing their licensing, management, operations, and supervisory framework.
What is the full form of BRBL in the context of CAIIB examination?
Banking Regulations and Business Laws subject of CAIIB.
Under Section 5(b) of the Banking Regulation Act, 1949, how is 'banking' defined?
Banking is defined as accepting deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order, or otherwise, for lending or investment.
Under which section of the Banking Regulation Act, 1949 can RBI cancel a bank's licence?
Section 22 empowers RBI to cancel banking licence.
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