Banking Awareness - Banking Acts, Reforms & Risk Management
Which of the following best differentiates the Banking Regulation Act, 1949 from the RBI Act, 1934?
Which of the following best differentiates the Banking Regulation Act, 1949 from the RBI Act, 1934?
hard Q8 of 15
Step-by-Step Solution
Step 1: Recall the purpose of each Act
Each Act has a distinct role.Step 2: Compare functions
One establishes RBI, the other regulates banks.Final Answer:
Banking Regulation Act regulates banks, RBI Act establishes RBI → Option DQuick Check:
Creation vs regulation is the key difference ✅
Quick Trick: RBI Act = creation, Banking Regulation Act = control.
Common Mistakes:
MISTAKES- Interchanging the purposes of the two Acts.
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