In which year was The Banking Regulation Act passed in India?

a. 1947

b. 1935

c. 1949

d. 1965

ANSWER: 1949

Explanation:

The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India.

Initially, the law was applicable only to banking companies.

But, 1965 it was amended to make it applicable to co-operative banks and to introduce other changes.