GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Nomination was introduced in banks by amendment in which of the following act.
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RBI Act
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Companies Act
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Banking Regulation Act
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Negotiable Instruments Act
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Explanation:
Detailed explanation-1: -Section 45ZA in BANKING REGULATION ACT, 1949.
Detailed explanation-2: -According to Banking Companies Amendment Act 1994, the Government’s share in the paid up capital of public sector banks has been reduced to 51%. This means, public sector should minimum hold the government’s 51% share. For example: State Bank of India.
Detailed explanation-3: -it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit, and the banking companies or the banking company, as the case may be, shall be bound to comply with such directions.
There is 1 question to complete.