Current Affairs - Bills and Acts - Discussion
Discussion Forum : Bills and Acts - Latest Current Affairs (Q.No. 76)
76.
Under which section of the Banking Regulation Act was the merger of Fincare Small Finance Bank with AU Small Finance Bank approved by the Reserve Bank of India?
Answer: Option
Explanation:
The Reserve Bank of India sanctioned the merger of Fincare Small Finance Bank with AU Small Finance Bank under "Section 44A" of the Banking Regulation Act, 1949. This section empowers the RBI to approve the amalgamation or merger of banks, ensuring compliance with regulatory standards and safeguarding the interests of stakeholders in the banking sector.
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