Question

Which institution frames the general rules and regulations for banks in India?

• A. State Bank of India
• B. Reserve Bank of India
• C. Ministry of Finance
• D. NITI Aayog

Answer 1

Answer:

B. Reserve Bank of India

Banks

• Banks operate on the basis of general rules and regulations framed by the Reserve Bank of India.

• First modern bank in India- Bank of Hindustan (1770)