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Discussion Forum : Finance - Latest Current Affairs (Q.No. 215)

2023-12-05 Finance

215.

Which sections of the Banking Regulation Act, of 1949 were cited in the cancellation of the license of Kolhapur's Shankarrao Pujari Nutan Nagari Sahakari Bank?

Sections 11(1) and 22(3)(d)

Sections 5(a) and 55

Sections 5(b) and 56

Sections 21(1) and 60

Answer: Option

Explanation:

The RBI revoked the license of Shankarrao Pujari Nutan Nagari Sahakari Bank under the Banking Regulation Act, 1949 Sections 5(b) and 56, which pertain to deposit acceptance and repayment.