Question

    According to the RBI's circular on unclaimed deposits,

    which section of the Banking Regulation Act, 1949 gives the RBI authority to issue instructions on transferring unclaimed deposits?
    A Section 35A Correct Answer Incorrect Answer
    B Section 26A Correct Answer Incorrect Answer
    C Section 45W Correct Answer Incorrect Answer
    D Section 10(4) Correct Answer Incorrect Answer
    E Section 18 Correct Answer Incorrect Answer

    Solution

    The authority for the RBI to issue instructions on unclaimed deposits is derived from Section 35A of the Banking Regulation Act, 1949, as mentioned in the circular "Inoperative Accounts/Unclaimed Deposits in Banks."

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