Multiple choice

Section 7(1) of RBI Act concerns with which of the following aspects?

  1. RBI authority to regulate the banks

  2. NABARD authority to regulate RRBs

  3. Government authority to issue directions to RBI

  4. RBI authority to issue directions to banks in India

  5. Constitution of Board of Directors of banks
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Section 7(1) in the Reserve Bank of India Act, 1934 states that the Central Government may from time to time give such directions to the bank as it may, after consultation with the Governor of the Bank, consider necessary in the public inter­est.

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