When was Banking Regulation act passed?

Q.  In which year was The Banking Regulation Act passed in India?
- Published on 16 Feb 17

a. 1947
b. 1935
c. 1949
d. 1965

ANSWER: 1949
 
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India.

Initially, the law was applicable only to banking companies.

But, 1965 it was amended to make it applicable to co-operative banks and to introduce other changes.

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