Question

The Central Board of RBI was constituted under which act?

• A. Reserve Bank of India Act, 1934
• B. Banking Regulation Act, 1949
• C. Companies Act, 1956
• D. RBI Regulation Act, 1935

Answer 1

Answer:

A. Reserve Bank of India Act, 1934

The RBI Act, 1934 provided the legal framework for the establishment, governance, and functions of the Reserve Bank of India. Under this act, the Central Board of Directors was created as the apex authority to oversee the bank’s management and policy decisions. Other acts like the Banking Regulation Act, 1949 and Companies Act, 1956 deal with different aspects of banking and corporate governance, not the constitution of the RBI.