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LEGAL FRAMEWORK OF REGULATION OF BANKS
Which Act forms the primary legislative framework for regulation of banks in India?
The Banking Regulation Act, 1949 is the primary legislation governing the regulation and supervision of banking companies in India, conferring wide powers on RBI.
Which section of the Banking Regulation Act, 1949 defines 'banking company'?
Section 5(c) defines a banking company.
Under which section of the Banking Regulation Act, 1949 is a 'banking company' defined?
Section 5(c) of the Banking Regulation Act, 1949 defines a banking company as any company which transacts the business of banking in India.
What is the full form of BR Act commonly used in Indian banking regulation?
Banking Regulation Act, 1949.
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