Economics · Banking Sector Regulations
According to Section 22 of the Banking Regulation Act, 1949, which entity is vested with the exclusive power to grant a licence to a company to carry on the business of banking in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The National Bank for Agriculture and Rural Development (NABARD)
- 2The Reserve Bank of India (RBI)✓
- 3The Securities and Exchange Board of India (SEBI)
- 4The Ministry of Finance, Government of India
Correct answer
The Reserve Bank of India (RBI)
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