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      Question

      The 2026 Scheme is formulated under several statutory

      provisions. Which of the following Acts does NOT grant statutory authority to this specific framework?
      A Banking Regulation Act, 1949 Correct Answer Incorrect Answer
      B Reserve Bank of India Act, 1934 Correct Answer Incorrect Answer
      C Payment and Settlement Systems Act, 2007 Correct Answer Incorrect Answer
      D Credit Information Companies (Regulation) Act, 2005 Correct Answer Incorrect Answer
      E Companies Act, 2013 Correct Answer Incorrect Answer

      Solution

      The framework draws regulatory powers through specific financial sector acts like Section 35A of the Banking Regulation Act, Section 45L of the RBI Act, Section 18 of the PSS Act, and Section 11 of the CIC Act. The general Companies Act, 2013 does not govern it.

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