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BRBL 60+ marks_ CAIIB SYLLABUS PRIORITY
Which section of the Banking Regulation Act, 1949 empowers RBI to issue directions to banks in public interest?
Section 35A of the Banking Regulation Act, 1949 empowers RBI to issue directions to banking companies in public interest, interest of depositors, or to prevent affairs being conducted in a manner detrimental to depositors.
What is the minimum capital requirement for a new banking company to be licensed under Section 22 of the Banking Regulation Act, 1949?
Minimum paid-up capital of Rs. 500 crore is required.
What is the minimum paid-up capital and reserves required for a bank to open a new branch under the Banking Regulation Act?
Under Section 23 of the Banking Regulation Act, 1949, a bank must obtain prior approval of RBI to open a new place of business; no fixed statutory minimum is prescribed but RBI evaluates financial health, CAMELS rating, and prior approval norms before granting permission.
Under Section 5(b) of the Banking Regulation Act, what is the statutory definition of 'banking'?
Accepting deposits repayable on demand for lending or investment.
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