Multiple choice

For banking business, the banking companies are licensed by which of the following?

(a) RBI (b) Company Law Board (c) Registrar of Companies (d) Security and Exchange Board of India

  1. Only (a)

  2. Only (a), (b) and (c)

  3. Only (a) and (d)

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

For banking business, the banking companies are licensed by Reserve Bank of India. Under Banking Regulation Act, 1949, no company shall carry on banking business in India unless it holds a license issued on that behalf by the Reserve Bank.

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