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Public Sector Bank, Private Sector Bank and Cooperative Bank
What is the minimum paid-up capital required for a new private sector bank in India as per RBI guidelines?
RBI guidelines require a minimum paid-up capital of Rs. 500 crore for new private sector banks, which must be maintained on an ongoing basis.
Which Act governs the nationalisation of banks in India?
Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
Under which Act are public sector banks in India primarily governed?
Public sector banks are primarily governed by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980, along with the Banking Regulation Act, 1949.
How many banks were nationalised in the first wave of bank nationalisation in 1969?
14 major commercial banks were nationalised
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