BNK · S02Introduction to Modern Banking System, Overview of the Banking Framework and Regulatory Structure in IndiaAsked in 3 of 7 papers (Dec ’23, Jun ’24, Jan ’25)
Which description best captures the Reserve Bank of India’s statutory character under section 3 of the RBI Act, 1934?
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AA voluntary association of commercial banks whose powers depend only on contract
BA department with no separate legal personality and no capacity to sue or be sued
CA statutory body corporate created under the RBI Act for currency management and banking
DAn ordinary banking company incorporated solely under general company law
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