📝 One-liners · 66 cards
Returns, Inspection, Winding up, Mergers and Acquisitions
Which section of the Banking Regulation Act, 1949 empowers RBI to call for returns from banks?
Section 27 of the Banking Regulation Act, 1949 empowers RBI to call for returns from banks, including the monthly return of assets and liabilities.
What type of returns must banking companies submit to RBI under Section 27 of the BR Act?
Monthly returns showing assets and liabilities position
What is the periodicity of the basic balance sheet return that every banking company must submit to RBI?
Every banking company must submit the return of assets and liabilities (balance sheet) to RBI on a monthly basis, as prescribed under Section 27 of the BR Act, 1949.
Under which section of the BR Act can RBI order a special audit of a banking company?
Section 30 empowers RBI to order special audit
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