Multiple choice

Which of the following is incorrectly matched?

  1. Section-8 of Banking Regulation Act : prohibitions for a banking company for trading activities

  2. Section-9 of Banking Regulation Act, 1949 : holding immovable property for period exceeding 7 years, except for its own use

  3. Section 10(1) of Banking Regulation Act, 1949 : banking company shall employ or be managed by a managing agent

  4. Section 5(0) of Banking Regulation Act, 1949 : Central Government has the authority to specify the activities that can be undertaken by a bank

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

Section 10(1) of Banking Regulation Act, 1949 states that no banking company shall employ or be managed by a managing agent.

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