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REGULATION OF BANKING BUSINESS IMP QUES
What is the primary legislation governing the regulation of banking business in India?
The Banking Regulation Act, 1949 is the primary legislation that governs the regulation of banking business in India, providing RBI with powers to supervise, control, and regulate banks.
What is the minimum capital requirement for foreign banks opening branches in India?
Foreign banks need minimum USD 25 million per branch.
Under which section of the Banking Regulation Act can RBI issue directions to banks?
RBI can issue 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 banking company affairs from being conducted detrimental to depositors.
Under which section of the Banking Regulation Act can RBI appoint additional directors?
Section 36AB empowers RBI to appoint additional directors.
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