New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    As laid down under the Companies Act, 2013

    _______________ shall not be used by the company for any purpose other than repayment of deposits
    A Deposit reserve fund Correct Answer Incorrect Answer
    B Deposit reserve account Correct Answer Incorrect Answer
    C Deposit repayment reserve account Correct Answer Incorrect Answer
    D Deposit redemption reserve account Correct Answer Incorrect Answer
    E Deposit acceptance reserve account Correct Answer Incorrect Answer

    Solution

    Section 73. Prohibition on acceptance of deposits from public: (5) The deposit repayment reserve account shall not be used by the company for any purpose other than repayment of deposits.

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