How does the Reserve Bank of India exercise various regulatory powers over the banks under the Banking Regulation Act 1949?
Reserve Bank of India has been empowered under Banking Regulation Act, 1949 to conduct the inspection of banks and regulate them in the interest of banking system, banking policy and depositors/public.
What is the Supreme Court decision on moratorium?
The Supreme Court last month directed that no compound or penal interest shall be charged from borrowers for the six-month loan moratorium period, which was announced last year amid the COVID-19 pandemic, and the amount already charged shall be refunded, credited or adjusted.
Which of the following does not have any role in regulation of NBFCs?
Which of the following statements is/are correct? A) NBFCs does not hold a banking license. B) NBFC can issue Demand Drafts like banks….
| Q. | Which of the following does not have any roles in regulation of NBFCs? |
|---|---|
| A. | National Housing Bank |
| B. | Reserve Bank of India |
| C. | SIDBI |
| D. | Ministry of Corporate Affairs |
How control is exercised by government and its agencies over banking system in India?
The BR Act provides a framework for supervision and regulation of all banks. It also gives the RBI the power to grant licences to banks and regulate their business operation. FEMA is the primary exchange control legislation in India. FEMA and the rules made thereunder regulate cross-border activities of banks.
What is government by the bank regulation Act 1949?
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Passed as the Banking Companies Act 1949, it came into force from 16 March 1949 and changed to Banking Regulation Act 1949 from 1 March 1966. It is applicable in Jammu and Kashmir from 1956.