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According to the Banking Regulation Act, 1949 what is the requirement of minimum paid-up capital in case of a banking company incorporated outside India?

Q: Answer-According to the Banking Regulation Act, 1949 what is the requirement of minimum paid-up capital in...

Section 11 -Requirement as to minimum paid-up capital and reserves Section 112a In the case of a banking company incorporated outside India - the aggregate value of its paid-up capital and reserves shall not be less than fifteen lakhs of rupees and if it has a place or places of business in the city of Bombay or Calcutta or both, twenty lakhs of rupees.

A Aggregate value of its paid-up capital and reserves shall not be less than five lakhs of rupees

B Aggregate value of its paid-up capital and reserves shall not be less than twenty lakhs of rupees

C Aggregate value of its paid-up capital and reserves shall be such as may be decided by the RBI

D Aggregate value of its paid-up capital and reserves shall not be less than fifteen lakhs of rupees

E Aggregate value of its paid-up capital and reserves shall not be less than thirty-five lakhs of rupees

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According to the Banking Regulation Act, 1949 what is the requirement of minimum paid-up capital in case of a banking company incorporated outside India?

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