Podcast
Questions and Answers
Explain the regulatory frameworks governing the banking sector in India.
Explain the regulatory frameworks governing the banking sector in India.
The regulatory frameworks include the RBI Act 1935, Banking Regulation Act 1949, and the Prevention of Money Laundering Act, 2002, which outline the compliance provisions for banks and financial institutions in India.
What are the powers of the government and RBI regarding the opening of new banks and branch licensing?
What are the powers of the government and RBI regarding the opening of new banks and branch licensing?
The government and RBI have the power to regulate the opening of new banks and branch licensing, as per the provisions of the relevant acts and regulations.
Which acts are relevant for ensuring compliance in the banking sector with regard to preventing money laundering?
Which acts are relevant for ensuring compliance in the banking sector with regard to preventing money laundering?
The Prevention of Money Laundering Act, 2002, is the key legislation governing compliance with anti-money laundering measures in the banking sector in India.
