Under the regulation of which act can scheduled

Q: Answer-Under the regulation of which act can scheduled commercial bank take equity stake in a payments bank...

A promoterpromoter group can have a joint venture with an existing scheduled commercial bank to set up a payments bank. However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 2 of the Banking Regulation Act, 1949.

commercial bank take equity stake in a payments bank to the extent permitted?

A Indian Societies Registration Act, 1860 Correct Answer Incorrect Answer

B Banking Regulation Act, 1949 Correct Answer Incorrect Answer

C Reserve Bank of India Act, 1934 Correct Answer Incorrect Answer

D Companies Act, 1956 Correct Answer Incorrect Answer

E Securities and Exchange Board of India Act, 1992 Correct Answer Incorrect Answer

Solution

A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payments bank. However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the Banking Regulation Act, 1949.

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SBI CBO

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