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DEVELOPMENT, REGULATION, AND SUPERVISION, AND RECENT PERFORMANCE OF SCHEDULED COMMERCIAL BAN
What is the primary function of the Reserve Bank of India as the central bank?
The RBI acts as the banker to the government, issues currency, regulates credit and money supply, and supervises the banking system to maintain monetary and financial stability in India.
What is the minimum paid-up capital required for a new private sector bank in India?
Minimum paid-up capital is Rs. 500 crore.
Which Act governs the regulation and supervision of Scheduled Commercial Banks in India?
The Banking Regulation Act, 1949 is the primary legislation governing the regulation, supervision, and control of Scheduled Commercial Banks in India.
What is the maximum permissible promoter shareholding in a new private sector bank after 15 years?
Promoter shareholding must reduce to 15 percent after 15 years.
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