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      Question

      The Government of India has sanctioned and notified the

      Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd with Unity Small Finance Bank Ltd. Which Section of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies?
      A Section 5 Correct Answer Incorrect Answer
      B Section 24 Correct Answer Incorrect Answer
      C Section 36 Correct Answer Incorrect Answer
      D Section 45 Correct Answer Incorrect Answer
      E Section 49 Correct Answer Incorrect Answer

      Solution

      Section 45 of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies (which include co-operative banks).

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