Question
The Reserve Bank of India has made the implementation of
the Risk-Based Internal Audit (RBIA) framework compulsory for which of the following institutions?Solution
Initially, the RBI mandated the Risk-Based Internal Audit (RBIA) framework for all Scheduled Commercial Banks (except RRBs). Later, the scope was expanded to cover: • All deposit-taking NBFCs, irrespective of their size. • All non-deposit taking NBFCs (including Core Investment Companies) with an asset size of ₹5,000 crore or more. • All Primary (Urban) Co-operative Banks (UCBs) with an asset size of ₹500 crore or more. Hence, the correct institutions are a, c, and d.
Which of the following most accurately defines venture capital investment?
A company claims depreciation of ₹15 lakhs as per tax laws but only ₹10 lakhs as per books. How should this temporary difference be treated?
Which inventory costing formula calculates value of closing inventory considering that inventory most recently purchased has not been sold?
Which of the following is NOT a feature of a Receipts and Payments Account?
U/s 208, it is obligatory for an assessee to pay advance tax where the tax payable is
Under which section of the Income Tax Act, 1961, is the term "person" defined?
What is the Minimum Holding Period (MHP) requirement for loans with a tenor of up to 2 years before they can be transferred by the originator/transferor?
What is the minimum number of directors which a One Person Company can have?
Read the following information to answer the below questions:
Project A has cash flows of ₹-10 lakh (initial), ₹3L, ₹4L, ₹5L over 3 years. Project B has the same initial investment but generates ₹6L, ₹4...
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