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Q.

In which year was the Banking Regulation Act passed:

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a

1955

b

1969

c

1959

d

1949

answer is A.

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Detailed Solution

The failure of 588 banks in various States during 1913-1917 emphasized the need for the Regulation and Coordination of Commercial Banks and thus Banking Regulation Act was passed in 1949.

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In which year was the Banking Regulation Act passed: