Question

Under which of these acts does the PMC(Punjab, and Maharashtra Cooperative Bank) got strict restrictions from RBI?

A Section 35 -A Correct Answer Incorrect Answer
B Section 21 -A Correct Answer Incorrect Answer
C Section 20 -A Correct Answer Incorrect Answer
D Section 6 Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

In September 2019, RBI imposed regulatory restrictions on PMC Bank after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.

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