BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Reserve Bank of India
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Central Government
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State Government
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Parliament
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Detailed explanation-1: -The primary banking regulator in India is the Reserve Bank of India (RBI). The RBI has wide-ranging powers to regulate the financial sector.
Detailed explanation-2: -The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks.
Detailed explanation-3: -The Reserve Bank’s affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.
Detailed explanation-4: -The Reserve Bank of India (RBI) Established under the RBI Act, 1934, RBI is the central bank of India; and is vested with various responsibilities under the Banking Regulation Act, 1949. Following are some of its primary functions: Issuance of banknotes. Banker to the government.