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Development Regulation and Supervision and Recent Performance of Scheduled Commercial Banks
When did RBI first receive supervisory powers over banking companies?
1940, on restricted basis for inspection in consultation with Government of India.
What did the Banking Regulation Act, 1949 mandate before RBI granted a bank licence?
RBI must inspect bank's books and methods to ensure depositors could be paid in full.
When did RBI announce systematic periodical inspections of all banking companies?
July 1949; inspections commenced March 1950 to cover all banks irrespective of size.
What shift occurred in RBI supervision during the 1950s?
From quantitative assessment of capital/reserves to qualitative appraisal of financial position and management.
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