Indian Financial System Regulators & Banking Reforms Part 1
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Indian Economy and Indian Financial System — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
Which apex body regulates the banking sector in India?
The Reserve Bank of India (RBI) is the apex regulatory body for the banking sector in India, established under the RBI Act, 1934.
Which year was the Reserve Bank of India nationalised?
RBI was nationalised in 1949 under RBI Act.
What is the primary legislation under which RBI was established?
The Reserve Bank of India was established under the Reserve Bank of India Act, 1934, and commenced operations on April 1, 1935.
What is the full form of SEBI and when was it given statutory status?
Securities and Exchange Board of India, statutory status in 1992.
Which regulatory body oversees the securities markets in India?
The Securities and Exchange Board of India (SEBI) regulates the securities markets in India, established under the SEBI Act, 1992.
Under which act is IRDAI constituted as a statutory body?
Insurance Regulatory and Development Authority Act, 1999.
What is the role of IRDAI in the Indian financial system?
The Insurance Regulatory and Development Authority of India (IRDAI) regulates and promotes the insurance sector in India, protecting policyholders' interests and ensuring orderly growth of the insurance industry.
When was PFRDA established and what does it regulate?
PFRDA established 2003, regulates pension sector in India.
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