GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All banking company are to prepare balance sheet and profit & loss account as on Mar 31 every year is prescribed in -
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Companies Act 1956
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Banking Regulations Act
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2ndschedule of RBI Act 1934
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None of the above
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Explanation:
Detailed explanation-1: -Every banking company has to prepare balance-sheet and profit and loss account as per provisions of Section 29 of Banking Regulation Act, 1949.
Detailed explanation-2: -2[(1A) Notwithstanding anything contained in any law for the time being in force or in any contract to the contrary, every banking company shall, before appointing, re-appointing or removing any auditor or auditors, obtain the previous approval of the Reserve Bank.
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