Multiple choice

A banking company can amalgamate with another banking company of its own, called ______ amalgamation. Central Govt. can also order amalgamation of two banking companies u/s 396 of ____, in consultation with ____.

  1. voluntary, RBI Act, SEBI

  2. voluntary, Companies Act, RBI

  3. voluntary, RBI Act, RBI

  4. voluntary, Companies Act, SEBI

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Amalgamation of banks: Voluntary Amalgamation: A banking company may be amalgamated with another banking company.

Amalgamation by Govt: After Consultation with RBI, Central Govt. is empowered to order amalgamation of two banking companies (u/s 396 of Companies Act).