Read the following statements carefully. State whether True/False with reasons: A bank cannot grant any loans and advances on the security of its own shares.
CS Professional · Banking - Law & Practice · PYQS · June 2022
Read the following statements carefully. State whether True/False with reasons: A bank cannot grant any loans and advances on the security of its own shares.
Answer & Explanation:
True: In terms of Section 20(1) of the Banking Regulation Act, 1949, a bank cannot grant any loans and advances on the security of its own shares.
Topics: Banking Regulations
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