Question

According to BR Act, section 32, every banking company shall, send --- copies of balance sheet, accounts and auditors report to the Registrar.

• A. 2
• B. 4
• C. 5
• D. 3

Answer 1

Answer:

D. 3

BR Act:

• The BR Act and the RBI Act empower the Reserve Bank to supervise and regulate the operations of all types of banks in India.

• Banking Companies Act 1949

• Act 10 of 1949

• Banking Companies Act was passed in : 10-3-1949

• Came into force in : 16-3-1949

• Banking Companies Act was renamed as Banking Regulation Act in : 1966

• Banking Regulation Act was applicable to Co-operative Societies in 1965 and came in to force on 1.3.1966

• Total Number Sections in BR Act - 56

• Total number of Schedules in BR Act - 5

• 5 parts

• 5 Schedules

Section 32-Copies of balance sheet and accounts to be sent to Registrar.

• Every banking company shall, send three copies of balance sheet, accounts and auditors report to the Registrar