Multiple choice

Other than the business specified u/s 6 (1) of Banking Regulation Act, a bank can undertake any other business which can be prescribed/decided by

(a) Central Govt. (b) RBI (c) Board of the Bank (d) Ministry of Corporate Affairs

  1. (a) and (b) only

  2. (b) and (c) only

  3. (d) only

  4. (a) only
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In addition to the business of banking, banking company may engage in any other forms of business which the Central Government may by notification in the Official Gazette, specify as a form of business in which it is lawful for a banking company to engage u/s 6(1).

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