📝 One-liners · 66 cards
INDIAN BANKING STRUCTURE ADD
What is the apex institution of the Indian banking system?
The Reserve Bank of India (RBI) is the apex institution, established in 1935 under the Reserve Bank of India Act, 1934, and nationalized in 1949.
Which body governs the monetary policy of India?
Reserve Bank of India governs India's monetary policy.
Under which Act are commercial banks in India regulated?
Commercial banks in India are regulated under the Banking Regulation Act, 1949, which gives RBI the power to license, inspect, and control banks.
In which year was the Reserve Bank of India established?
Reserve Bank of India was established in 1935.
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