6 Questions
Who is authorized to inspect banks according to the Banking Regulation Act?
RBI
What is the consequence of wilfully making a false statement in any return, balance sheet, or other documents under the Banking Regulation Act?
Fine
Under which section of the Banking Regulation Act are banks authorized to return paid cheques to issuing customers?
Sec 45Z
Who can accept deposits withdrawable by cheque from the public according to the Banking Regulation Act?
Any entity
Who can specify the period for which banks should preserve various records under the Banking Regulation Act?
Central Government
Which entity can impose a penalty for violations or defaults under the Banking Regulation Act?
RBI
Test your knowledge on the Banking Regulation Act, RBI Act, branch set-up process, balance sheets, profit & loss accounts, powers of RBI to inspect banks, preservation of records, and return of paid cheques as specified in the Acts.
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