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Key Provisions of Banking Regulation Act
1
2
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4
5
1.
Which entity regulates and supervises NBFCs?
SEBI
RBI
Ministry of Finance
NABARD
2.
Who is entrusted with the power to lay down instructions to the banks in India for audits?
RBI
Finance Ministry
State Government
None
3.
When did the Banking Regulation Act come into effect?
16th March 1949
10th March 1949
12th March 1950
6th March 1950
4.
When did the Banking Regulation Act, 1949 become applicable to the state of Jammu & Kashmir?
1949
1970
1956
1966
5.
The Banking Regulation Act was initially passed by what name?
Banking Firms Act, 1949
Banking Companies Act, 1949
Banking Units Act, 1949
None
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