Question

Commercial banks in India are mainly regulated and governed by the  ______.

Options

• Securities and Exchange Board of India and the Companies Act, 1956

• Reserve Bank of India and the Banking Regulation Act, 1949

• Ministry of Finance and the Foreign Exchange Management Act

• Election Commission of India and RBI Act, 1934

Answer 1

Commercial banks in India are mainly regulated and governed by the Reserve Bank of India and the Banking Regulation Act, 1949.

Explanation: 

Commercial banks are regulated by the Reserve Bank of India (RBI) and governed by the provisions of the Banking Regulation Act, 1949.​