In which of the following years the Banking Regulation Act enacted in India?

Correct option is C

The correct answer is (c) 1949. The Banking Regulation Act was enacted in India in the year 1949. This act provides a framework for regulation and supervision of the banking sector by the Reserve Bank of India (RBI), ensuring the banking sector's safety, soundness, and resilience. It covers various aspects of banking operations, including licensing, management, operations, and the winding up of banks. The act was initially called the Banking Companies Act, 1949, and later changed to the Banking Regulation Act, 1949. It marks a significant milestone in the history of banking regulation in India, laying the foundation for a regulated banking environment, which is crucial for the country's economic stability and growth.