Indian Banking Structure
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One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What is the apex bank of India that regulates the monetary policy and banking system?
The Reserve Bank of India (RBI) is the apex bank, established in 1935 under the RBI Act, 1934, responsible for monetary policy, currency issuance, and regulation of banks.
What is the full form of RBI in the context of Indian banking?
Reserve Bank of India, established in 1935.
Under which Act was the State Bank of India constituted?
The State Bank of India was constituted under the State Bank of India Act, 1955, taking over the Imperial Bank of India.
In which year was the Reserve Bank of India established?
The Reserve Bank of India was established in 1935.
What distinguishes a scheduled commercial bank from a non-scheduled bank?
A scheduled commercial bank is listed in the Second Schedule of the RBI Act, 1934, maintains a minimum paid-up capital and reserves of Rs. 5 lakh with RBI, and is eligible for refinance facilities from RBI.
When was the Reserve Bank of India nationalised?
RBI was nationalised on 1st January 1949.
What are the four tiers of the Indian banking structure?
The four tiers are: RBI (apex/regulator), scheduled commercial banks (public sector, private sector, foreign banks, small finance banks, payments banks), cooperative banks, and regional rural banks.
Which Act governs the functioning of the Reserve Bank of India?
The Reserve Bank of India Act, 1934.
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