RBI Act, BR Act, NI Act
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for VIDEO LECTURES OF ASHISH SIR (FOR ALL SCALES) — Bank Promotions.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
Under which Act was the Reserve Bank of India established?
The Reserve Bank of India was established under the Reserve Bank of India Act, 1934, which came into effect on April 1, 1935.
In which year was the Reserve Bank of India Act enacted?
RBI Act was enacted in 1934.
What is the minimum paid-up capital requirement for a new private sector bank as per the Banking Regulation Act?
As per the Banking Regulation Act, 1949, the minimum paid-up capital for a new private sector bank is Rs. 500 crore as stipulated by RBI guidelines.
When did the Reserve Bank of India commence its operations?
RBI commenced operations on April 1, 1935.
Which section of the RBI Act empowers RBI to act as the banker to the Central Government?
Section 20 of the RBI Act, 1934 empowers the RBI to undertake the receipt, payment, and remittance of money on behalf of the Central Government.
What is the full form of BR Act in banking context?
BR Act stands for Banking Regulation Act, 1949.
What does Section 21 of the RBI Act deal with?
Section 21 of the RBI Act, 1934 empowers the RBI to transact Government business, making it the sole agent for the Central Government for money management and banking transactions.
Under which section of the RBI Act can RBI issue directions to banks?
Section 35A of BR Act empowers RBI to issue directions.
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