Question

As per the Banking Regulation Act which of the following statements relating to the acquisition of qualification shares by managing directors of a banking company is true?

A Managers of banking companies are required to acquire shares immediately upon appointment
B Managers of banking companies are exempted from holding qualification shares
C Managers of banking companies must acquire shares within one month of appointment
D Managers of banking companies must acquire shares within six months of appointment
E Managers of banking companies must acquire shares within one year of appointment
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