Multiple choice

Banks can undertake permitted business activities u/s 6 (1) of Banking Regulation Act such as

(a) buying or selling of bullion (b) undertaking and executing trusts (c) undertaking the administration of estates as executors and trustees (d) providing of safe deposit vaults

  1. (a), (b) and (c) only

  2. (b), (c) and (d) only

  3. (a), (c) and (d) only

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Section 6(1) in BANKING REGULATION ACT,1949 permits: the buying, selling and dealing in bullion and specie, undertaking and executing trusts, undertaking the administration of estates as executor, trus­tee or otherwise and the providing of safe deposit vaults.

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