New Enroll for RBI, SEBI & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Who has the power to suspend operation of the Banking

    Regulation Act?
    A Central Government Correct Answer Incorrect Answer
    B Reserve Bank of India Correct Answer Incorrect Answer
    C RBI on the representation of the CAG Correct Answer Incorrect Answer
    D Central Government on the representation of the RBI Correct Answer Incorrect Answer

    Solution

    Section 4. Power to suspend operation of Act: (1) The Central Government, if on a representation made by the Reserve Bank in this behalf is satisfied that it is expedient so to do, may by notification in the Official Gazette, suspend for such period, not exceeding sixty days, as may be specified in the notification, the operation of all or any of the provisions of this Act, either generally or in relation to any specified banking company.

    Practice Next