About this document
Section 6: Banking Regulation Act Overview by mercatuz is a document available to read on EtoBox.
(i) The Banking Regulation Act 1949 regulates banks in India and defines banking as accepting deposits from the public for lending or investment. It specifies the forms of business banks can engage in, including borrowing/lending money and various financial services. (ii) The Act prohibits trading by banks and restricts employment of managing agents. It gives the Reserve Bank powers to appoint bank chairmen and requires minimum capital and reserves. Banks must transfer 20% of annual profits to a reserve f
- Author
- mercatuz
- Language
- EN