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Sub-section (2) of the Banking Regulation Act, 1949, says that no banking shall hold shares in any company, whether as pledgee, mortgagee, or absolute owner, of an amount exceeding 30 percent of the paid-up share capital of that company or thirty percent of its own paid-up share capital and reserves.
Discussing the text of an important and relevant portion of a simple query, supported with a clear example, I posed to DBR (RBI) - Unimplemented directions of RBI on Auto re-designation of banking a/cs into Senior Citizen Account.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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