Banking and Finance 3 MCQs and Notes

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Q. The Reserve Bank of India is given the responsibility of regulating and supervising the _________ under Reserve Bank of India Act, 1934.

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✅ Correct Answer: (D) Non-Banking Financial Companies

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Q. In which year, the Banking Regulation Act was amended to include cooperative banks under its purview by adding the Section 56.

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✅ Correct Answer: (B) 1965

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Q. ____________________are excluded from the Banking Regulation Act 1949.

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✅ Correct Answer: (B) Primary Agricultural Credit Society and cooperative land mortgage banks

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Q. On which rate bases, overnight money is needed by bank from RBI?

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✅ Correct Answer: (A) MSF