Financial Awareness - Risk, Stability & Emerging Finance
Which act primarily governs the regulation of banking companies in India?
Which act primarily governs the regulation of banking companies in India?
medium Q6 of 15
Step-by-Step Solution
Step 1: Recall key legislation for banking regulation
The Banking Regulation Act, 1949 is the main law governing banking companies in India.Step 2: Analyze other acts
Companies Act governs company law, Securities Contracts Act regulates securities trading, Insurance Act governs insurance sector.Final Answer:
Banking Regulation Act, 1949 → Option AQuick Check:
Banking regulation law = Banking Regulation Act, 1949 ✅
Quick Trick: Banking Regulation Act = key banking law
Common Mistakes:
- Confusing company or securities laws with banking regulation
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