Question
Under Section 45S of the RBI Act, 1934, the prohibition
on acceptance of deposits applies to which category of persons?Solution
Section 45S, falling under Chapter IIIC dealing with prohibition of acceptance of deposits by unincorporated bodies, provides that no person being an individual or a firm or an unincorporated association of individuals shall accept any deposit if their business includes the activities specified in Section 45-I(c) or if their principal business is receiving deposits or lending. An exception exists for loans received from relatives. The prohibition therefore targets individuals, firms and unincorporated associations of individuals.
Every member of a company limited by shares and holding any preference share capital therein shall, in respect of such capital, have a right to vote____...
Which of the following categories of persons is NOT entitled to free legal services under the Legal Services Authorities Act, 1987?
Under Section 23 of the Payment and Settlement Systems Act, 2007, a large commercial bank, Bank Y, participates in a Clearing Corporation's net settleme...
Under Section 4 of the Payment and Settlement Systems Act, 2007, a fintech startup, Company X, intends to launch a peer-to-peer payment platform allowin...
Section 65 states that:
Under Section 349 of the BNSS, 2023, a Magistrate of the first class wishes to order an individual to provide a voice sample for forensic analysis. The ...
What is the minimum amount of default specified by the Central Government for initiating insolvency and liquidation proceedings under IBC?
Which of the following is covered under “petty organised crime” under Section 112(1) BNS?
Which of the following Sections deal with specific performance of contracts as per the Specific Relief Act, 1963?
“It shall be the duty of the Central Vigilance Commission to inquire or cause an inquiry to be made into any complaint received under the Public Inter...
