BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bank of India
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banking companies
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cooperative land development banks
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primary agricultural credit societies
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Detailed explanation-1: -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.
Detailed explanation-2: -Objectives of the Banking Regulation Act, 1949 To provide provisions that can regulate the business of banking. To regulate the opening of branches and changing of locations of existing branches. To prescribe minimum requirements for the capital of banks. To balance the development of banking institutions.
Detailed explanation-3: -As per law, banking companies cannot indirectly or directly deal or trade-in selling and buying or bartering goods. This is an exemption if the security is held or given.