Question

Under Section 30(1

  • B of the Banking Regulation Act, 1949, the Reserve Bank may direct that a special audit of a banking company’s accounts be conducted. Under Section 30(1
  • C , the expenses of or incidental to the special audit as specified in the Reserve Bank’s order shall be borne by:
A The banking company
B The Reserve Bank out of its surplus
C The Central Government from the Consolidated Fund of India
D The auditor appointed to conduct the special audit
E Equally shared between the RBI and the banking company
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