From which year did the Banking Companies Act take the name Banking Regulation Act?
A1956
B1961
C1966
D1969
Answer & Solution
Correct answer: C. 1966
The Act was renamed Banking Regulation Act 1949 with effect from 1 March 1966.
Keep practising Audit of Banks
Browse all Audit of Banks questions for CA Inter, or explore more Auditing topics.
Related questions
The RBI's main supervisory aim covers which institutions?What was the Sovereign Gold Bond meant to reduce?How do non-performing loans mainly hurt a bank?What does securitization of NPLs involve?What is another name for a bad bank in NPL management?A loan is generally non-performing when interest and principal are overdue by how long?From which date did NEFT become available 24x7?Which 2007 Act gives the RBI oversight of payment systems?