2020
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
RBI
|
|
|
SEBI
|
|
|
SIDBI
|
|
|
SBI
|
Detailed explanation-1: -Reserve Bank of India has ceased the Banking operations by the Aditya Birla Idea Payments (ABIP) Bank under Banking Regulations Act 1949 with effect from July 28, 2020.
Detailed explanation-2: -Section 36 mentions the powers of RBI. The Reserve Bank may prohibit banking companies from entering into a particular transaction and can advise the banking company. It can also assist the banking company by granting loans or advances under Section 18.
Detailed explanation-3: -“Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd to stop, with immediate effect, onboarding of new customers, ” the central bank said in a statement.
Detailed explanation-4: -Aditya Birla Payments Bank, which was a joint venture between Aditya Birla Nuvo and Idea Cellular, discontinued its banking business within 2 years of its inceptions due to lack of funds.
Detailed explanation-5: -The RBI Act determines the roles and responsibilities of the RBI for effectively managing the flow of money in the country. The banking regulation Act defines the process of monitoring and controlling the use of bank assets and funds by the banks.