Multiple choice

Section 6(1)(o) of Banking Regulation Act deals with which of the following aspects?

  1. RBI powers to recommend amalgamation of a bank

  2. Central Government authority to notify other forms of business of a banking company

  3. Central Government authority to order merger of a bank

  4. RBI powers to supersede the management of a bank
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Section 6(1)(o) of Banking Regulation Act deals with any other form 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. Thus, option 2 is correct. 

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