📝 One-liners · 65 cards
Banking Regulation Act, 1949 and RBI Act, 1934
In which year was the Banking Regulation Act enacted?
The Banking Regulation Act was enacted in 1949 to regulate and supervise the banking sector in India.
Under Section 17 of the BR Act, 1949, what minimum percentage of net profit must a banking company transfer to the Statutory Reserve Fund before declaring a dividend?
20% of net profit
In which year was the Reserve Bank of India Act enacted?
The Reserve Bank of India Act was enacted in 1934, establishing the legal framework for the functioning of the RBI.
Under Section 19(2) of the BR Act, 1949, a bank's shareholding in any company is capped at 30% of that company's paid-up share capital or 30% of the bank's own paid-up capital and reserves — which applies?
Whichever is less
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Banking Regulation Act, 1949 and RBI Act, 1934.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days