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Overview of Banking Regulation Act 1949 by ray is a document available to read on EtoBox.
The Banking Regulation Act of 1949 gives the Reserve Bank of India powers to (1) license and supervise banks (2) regulate bank operations (3) lay down audit instructions and (4) impose moratoriums or initiate mergers and liquidations. The Act requires banks to have boards with specialized experience, be chaired by a full-time chairman, maintain minimum capital and reserves, restrict dividends and lending, and submit regular returns to the RBI regarding assets, liabilities, and unclaimed deposits. Banks must
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- ray
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- EN