GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which year was the Banking Regulation Act passed?
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1945
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1949
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1955
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1959
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Explanation:
Detailed explanation-1: -The banking regulation 1949 act of India is mainly established to restrict trading business to eradicate non-banking sector various risks. Apart from this, the other objective or role of the banking act of 1949 is to safeguard and highly protect the depository’s interest.
Detailed explanation-2: -Detailed Solution. The Banking Regulation Act was passed in India in the year 1949. The act regulates all the banking firms in India. It came into effect on 16 March 1949 and was applicable in Jammu and Kashmir from 1956.
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