In terms of Section.....of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In terms of Section____of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.

A	section 16
B	section 22
C	section 32
D	section 20

Explanation:

Detailed explanation-1: -In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.

Detailed explanation-2: -45K. Power of Bank to collect information from non-banking institutions as to deposits and to give directions. 45L. Power of Bank to call for information from financial institutions and to give directions.

Detailed explanation-3: -Section 2 of RBI Act 1934 : “Definitions" (i) “co-operative bank", “co-operative credit society", “director", “primary agricultural credit society", “primary co-operative bank” and “primary credit society” shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949).

Detailed explanation-4: -(1) The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest.

There is 1 question to complete.