Multiple choice

Definition of the term ‘banking’ is as per Section 5 (b) of the

  1. Banking Companies (Acquisition and transfer of Undertakings) Act

  2. Banking Regulation Act

  3. RBI Act

  4. NI Act
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawal by cheque, draft, order or otherwise. 

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