BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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prohibits a banking company from creating a charge upon any unpaid capital of the company
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contains a system of licensing of banks by the RBI
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provides that the subscribed capital of a banking company should not be less than one-half of its authorised capital
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All of the above
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Detailed explanation-1: -14. Prohibition of charge on unpaid capital.-No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid..
Detailed explanation-2: -Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) prohibits banks from granting any loan or advance to any of its Directors.
Detailed explanation-3: -Power of RBI to impose penalties The Banking Regulation Act, 1949 confers power on Reserve Bank of India under Section 47(A) to impose penalties if there has been any default or contravention.
Detailed explanation-4: -The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949, with specific licensing conditions restricting its activities mainly to acceptance of demand deposits and provision of payments and remittance services.