Question
Section 6(2) of the Banking Regulation Act, 1949
prohibits a banking company from engaging in any form of business other than those enumerated in sub-section (1). The permissible forms of additional business under sub-section (1)(o) include any other form specified by:Solution
Section 6(1)(o) provides that, in addition to the business of banking, a banking company may engage in any other form of business which the Central Government may, by notification in the Official Gazette, specify as a form of business in which it is lawful for a banking company to engage. Section 6(2) then categorically bars all forms of business not listed in sub-section (1). The Central Government’s power under clause (o) allows expansion of the permitted activities list through a formal executive notification rather than legislative amendment, maintaining regulatory flexibility while retaining Parliamentary oversight through the notification procedure. It is the Central Government—not the RBI directly—that holds this specific power under clause (o).
Read the passage below and determine which of the following statements can be logically inferred.
Passage: A coastal federation of artisanal fi...
In the question given below, a passage/statement is given followed by three statements which may or may not strengthen/weaken the assertion made in th...
In the question given below, a passage is given followed by three statements which may or may not be inferred from the passage. Select the correct comb...
In the question given below, a passage is given followed by three statements which may or may not be inferred from the passage. Select the correct com...
Read the passage below, followed by three statements. Select the correct combination of statements that can be inferred from the passage:
The e...
In the question given below, a passage is given followed by three statements which may or may not be inferred from the passage. Select the correct com...
In the question given below, a passage is given followed by three statements which may or may not be inferred from the passage. Select the correct com...
Read the passage below and determine which combination of the given statements can be correctly inferred from the text.
Passage: SpaceX, establ...
In the question given below, a passage is given followed by three statements which may or may not be inferred from the passage. Select the correct com...
In the question given below, a passage is followed by three statements which may or may not be inferred from the passage. Select the correct combinati...
