BNK · S01Introduction to ‘Banking’, Modern Banking System, Key Financial terms, Types of Banks & Financial InstitutionsAsked in 7 of 7 papers (Jun ’22, Dec ’22, Jun ’23, Dec ’23, Jun ’24, Jan ’25, Jun ’25)
Which activity most closely satisfies the statutory meaning of ‘banking’ under section 5(b) of the Banking Regulation Act, 1949?
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AA manufacturer taking refundable advances only from dealers to finance production of its own goods
BAn investment adviser managing securities for clients without accepting repayable public deposits
CA moneylender advancing only its owners’ capital without accepting deposits from the public
DAccepting repayable public deposits for lending or investment, with withdrawal by cheque, draft, order or otherwise
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