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      Question

      Under Section 58 of the RBI Act, 1934, every regulation

      made by the Central Board must be laid before each House of Parliament for a total period of how many days?
      A Fourteen days Correct Answer Incorrect Answer
      B Twenty-one days Correct Answer Incorrect Answer
      C Twenty-eight days Correct Answer Incorrect Answer
      D Thirty days Correct Answer Incorrect Answer
      E Forty-five days Correct Answer Incorrect Answer

      Solution

      Section 58(1) empowers the Central Board, with the previous sanction of the Central Government and by notification in the Official Gazette, to make regulations consistent with the Act. Under Section 58(4), every regulation must be laid before each House of Parliament for a total period of thirty days, which may be comprised in one session or two or more successive sessions. Parliament may modify or annul the regulation within that period. The laying period is thirty days.

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