Legal Framework³

The primary Acts governing this sector are the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949 [also the Banking Laws (Amendment) Act, 2012]. Several other Acts govern specific functions (e.g., the Foreign Exchange Management Act, 1999), banking operations, and individual institutions.

• 3.About Us, RBI, https://www.rbi.org.in/Scripts/AboutusDisplay.aspx#LF, accessed 16 July 2023