Banking Regulation Act - Banking awareness questions on current affairs

1)   In which year was the Banking Regulation Act passed?

a. 1949
b. 1955
c. 1959
d. 1969
Answer  Explanation 

ANSWER: 1949

The failure of 588 banks in various states during 1913-1917 emphasized the need for the regulation and coordination of commercial banks and thus Banking Regulation Act was passed in 1949.