The government directly or indirectly controls the activity of banks through Reserve Bank of India. The Government regulates PSBs under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; the Bank Nationalisation Act, 1980, and the State Bank of India Act, 1955. Various acts empower government as regulator of banks in India.
The following acts empower government as regulator of banks in India:
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Punjab Civil Services 2021