Multiple choice

Any transfer of shares in a banking company which exceeds ____ of paid up capital of the bank requires acknowledgment by _____ before registration in the books of the company.

  1. 5%, SEBI

  2. 5%, RBI

  3. 10%, RBI

  4. 10%, Company Law Board
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The RBI guidelines on acknowledgement for acquisition or transfer of shares issued on February 3, 2004 will be applicable for any acquisition of shares of 5% and above of the paid-up capital of the private sector bank.

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