Answer / Chayan Singh

Bank Regulation Act refers to laws and regulations that control and supervise the functioning of banks. The main purpose is to ensure stability, fairness, and integrity in the banking system. In India, the Reserve Bank of India (RBI) is the principal regulatory body for banks under the Banking Regulation Act, 1949.nnThe act covers various aspects such as bank licenses, powers of RBI, maintenance of reserves by banks, conduct of business, etc.

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