📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store

    • Question

      What are the various ground on the basis of which RBI

      may cancel a licence granted to a banking company?
      A If the company ceases to carry on banking business in India Correct Answer Incorrect Answer
      B If the company at any time fails to comply with any of the conditions imposed upon it Correct Answer Incorrect Answer
      C If at any time, any of the conditions referred to in section 22 (3) & 22(3A) is not fulfilled Correct Answer Incorrect Answer
      D All a b & c Correct Answer Incorrect Answer
      E Either a b or c Correct Answer Incorrect Answer

      Solution

      Section 22. Licensing of banking companies: (4) The Reserve Bank may cancel a licence granted to a banking company under this section-- (i) if the company ceases to carry on banking business in India; or (ii) if the company at any time fails to comply with any of the conditions imposed upon it under sub-section (1); or (iii) if at any time, any of the conditions referred to in sub-section (3) and sub-section (3A) is not fulfilled.

      Practice Next
      ask-question