Questions and Answers
Explain the significance of the RBI Act, 1934, and its role in regulating the Reserve Bank of India (RBI).
The RBI Act, 1934, serves as the legal framework for the establishment, functioning, and regulation of the Reserve Bank of India, India's central bank. It has undergone several amendments to adapt to changing economic and financial conditions.
What are the provisions and aspects of the RBI Act related to Capital and Management?
The Act specifies the authorized and subscribed share capital of the RBI and outlines the structure of the central board of directors.
Discuss the key components of the Banking Regulations Act 1949.
The Banking Regulations Act 1949 regulates the functioning of banking companies and lays down the statutory requirements for banks.
Explain the relevance of the Insolvency and Bankruptcy Code, 2016, in the context of regulatory framework and compliances.
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What is the purpose of the Anti-Money Laundering regulations in the banking sector?
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Study Notes
RBI Act, 1934
- The RBI Act, 1934, serves as the legal framework for the establishment, functioning, and regulation of the Reserve Bank of India (RBI), India's central bank.
- The Act has undergone several amendments over the years to adapt to changing economic and financial conditions.
Capital and Management (Sections 3-4)
- The Act specifies the authorized and subscribed share capital of the RBI.
- Initially, the RBI was privately owned, but the majority of its shares are now held by the Indian government.
- The Act outlines the structure of the central board of directors, which manages the RBI.
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