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    Question

    The Government of India has sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd with Unity Small Finance Bank Ltd. Which Section of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies?

    A Section 5 Correct Answer Incorrect Answer
    B Section 24 Correct Answer Incorrect Answer
    C Section 36 Correct Answer Incorrect Answer
    D Section 45 Correct Answer Incorrect Answer
    E Section 49 Correct Answer Incorrect Answer

    Solution

    Section 45 of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies (which include co-operative banks).

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