Banking Regulation Act- What Does the R Stand For

Q.  What does the letter 'R' denote in the abbreviation 'BR Act' which controls banking activities in the country?
- Published on 20 Jul 15

a. Reclamation
b. Reformation
c. Regulation
d. Rule

ANSWER: Regulation
 
Winding up of a banking company is done under the provisions of the Banking Regulation Act, 1949. The reasons for this are inability to pay its debts; moratorium placed on the bank or failure to comply with minimum capital adequacy; failure to comply with requirements of Banking Regulation Act.

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