Question
Which of the following Statements is/are True? I-
Banking Regulation Act provides a structure under which commercial banking in India is supervised and regulated. II- Primary Agricultural Credit Society and cooperative land mortgage banks are excluded from the Act. III- BR Act lays down instructions for audits; control moratorium, mergers and liquidation.Solution
The Act provides a structure under which commercial banking in India is supervised and regulated. The Act supplements the Companies Act, 1956. Primary Agricultural Credit Society and cooperative land mortgage banks are excluded from the Act. Several powers are provided by the Act to the Reserve Bank of India: to license banks, have regulation over shareholding and voting rights of shareholders; to supervise the appointment of the boards and management; to regulate the operations of banks; to lay down instructions for audits; control moratorium, mergers and liquidation; to issue directives in the interests of public good and on banking policy, and impose penalties
Financial statements of a company should be prepared as per ________ and they should give true and fair view.
ABC analysis is mainly used for:
For an NBFC-MFI (Microfinance Institution), what is the minimum proportion of its assets that must be in the form of microfinance loans?
Which of the following instrument is subject to counter party risk?
An Indian insurer receives ₹5 crore as foreign premium from a US-based NRI. As per FEMA guidelines, how should the transaction be treated in its books...
The Bharat Bill payment system (BBPS) is a one-stop ecosystem for payment of all bills providing an interoperable and accessible bill payment service a...
What is the maximum deduction allowed under Section 80U of the Income Tax Act, 1961, for an individual with a severe disability?
What type of banking transaction allows a customer to temporarily invest their money with the bank in exchange for higher interest rates, but with limit...
A company’s estimated tax liability for FY 2024–25 is ₹20 lakh. It has already paid ₹4 lakh in the first installment (15 June). Calculate the am...
Under the Expected Credit Loss (ECL) model, how are trade receivables without a significant financing component measured for impairment?
Relevant for Exams:
