Question

  Which of the following is the sections under Banking Regulation Act Under which restrictions on loans and advances is made?

A Section 19 Correct Answer Incorrect Answer
B Section 20 Correct Answer Incorrect Answer
C Section 21 Correct Answer Incorrect Answer
D Section 22 Correct Answer Incorrect Answer
E Section 25 Correct Answer Incorrect Answer

Solution

Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) prohibits banks from granting any loan or advance to any of its Directors.

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