Banking Regulation Act, 1949
- It was passed as the Banking Companies Act 1949 and was changed to the Banking Regulation Act, 1949 from 1st March 1966.
- This act empowers the RBI to issue licence to commercial banks, regulate shareholders' shareholding and voting rights, supervises the appointment of boards and management, regulates the operations of banks, giving instructions for audit, control moratorium, merger, and liquidation, issues instructions to the banks in the interests of public welfare & banking policy, impose a penalty on banks if required.
- In 2020, the government passed an ordinance to change the Banking Regulation Act, 1949, making all the co-operatives come ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
News Snippets
- 1 India-Bhutan Hold Talks on Boundary and Cooperation
- 2 New Species of Congrid Eel Discovered
- 3 Delhi Becomes the 28th Legislature to Join NeVA
- 4 U.S. Withdraws from U.N. Climate Damage Fund Board
- 5 India and Vietnam Hold Fourth Policy Planning Dialogue
- 6 US Targets India’s High Tariffs
- 7 India and Armenia Sign MoU on Medical Product Regulation
- 8 Poland & Baltic States to Withdraw from Ottawa Convention
- 9 India and Mongolia Strengthen Strategic Partnership
- 10 New Freshwater Algae Species Discovered in Western Ghats
