New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Who has the power to suspend the operation of the

    Banking Regulation Act, 1949?
    A Reserve Bank Correct Answer Incorrect Answer
    B Board of Directors Correct Answer Incorrect Answer
    C Central Government Correct Answer Incorrect Answer
    D Banking Company on its own Correct Answer Incorrect Answer

    Solution

    Section 4 Power to suspend operation of Act – (1) The Central Government, if on a representation made by the Reserve Bank in this behalf is satisfied that it is expedient so to do, may by notification in the Official Gazette, suspend for such period, not exceeding sixty days, as may be specified in the notification, the operation of all or any of the provisions of this Act, either generally or in relation to any specified banking company.

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