2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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July 24, 2017
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July 23, 2017
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July 28, 2017
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July 26, 2017
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Detailed explanation-1: -On July 24, 2017, the Banking Regulation (Amendment) Bill was passed in the Lok Sabha.
Detailed explanation-2: -The Banking Regulation (Amendment) Bill, 2017 was introduced in Lok Sabha by the Minister of Finance, Mr. Arun Jaitley, on July 24, 2017. It seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related to stressed assets.
Detailed explanation-3: -This was done to protect the interests of depositors and extend deposit insurance coverage to these banks. RBI regulates state co-operative banks, district (central) co-operative banks and primary co-operative banks (also called urban co-operative banks).
Detailed explanation-4: -The Banking Regulation Act, 1949 (BR Act, 1949) was amended by the Banking Regulation (Amendment) Act, 2020 (Act 39 of 2020) which came into force on September 29, 2020.
Detailed explanation-5: -(1) This Act may be called the Banking 1 [Regulation] Act, 1949. [(2) It extends to the whole of India 3 [***].] (3) It shall come into force on such date 4 as the Central Government may, by notification in the Official Gazette, appoint in this behalf.