GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Banks have prohibited to staple bank notes by RBI by issuing strict directives for implementation. Under which of the following, these directives have been issued?
|
|
Section 35 A of Indian Currency Act
|
|
|
Section 35 A of Negotiable Instrument Act
|
|
|
Section 35 of Reserve Bank of India Act
|
|
|
Section 35 A of Banking Regulation Act
|
Explanation:
Detailed explanation-1: -The RBI drives the powers to issue directions to banking companies through provisions of Banking Regulation Act, 1949. The Section 21, 35A and 36 of BR Act confers powers of RBI to issue directions to banking companies.
Detailed explanation-2: -Prohibition of trading Trading is prohibited under Section 8 of this Act. No banking company shall directly or indirectly deal in the buying or selling, or bartering of goods except when it is selling the goods kept in its security.
There is 1 question to complete.