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      Question

      The assets in India of every banking company at the

      close of business on the last Friday of every quarter or, if that Friday is a public holiday at the close of the business on the preceding working day_________________ as per the Banking Regulation Act
      A Shall not be less than seventy-five per cent of its demand and time liabilities in India Correct Answer Incorrect Answer
      B Shall not be less than seventy-five per cent of its demand or time liabilities in India Correct Answer Incorrect Answer
      C Shall be less than seventy-five per cent of its demand and time liabilities in India Correct Answer Incorrect Answer
      D Shall not be less than such per cent of its demand and time liabilities in India as may be specified from time to time Correct Answer Incorrect Answer

      Solution

      Section 25.Ā  Assets in India: (1) The assets in India of every banking company at the close of business on the last Friday of every quarter or, if that Friday is a public holiday under the Negotiable Instruments Act, 188, at the close of the business on the preceding working day, shall not be less than seventy-five per cent. of its demand and time liabilities in India.

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