alleryStart learning →Which step by a bank needs RBI's previous approval under s.30(1A)?
AOpening a savings account
BChanging the audit fee slip
CRemoving its auditor
DPrinting its annual report
Answer & Solution
Correct answer: C. Removing its auditor
The section covers appointing, re-appointing or removing an auditor, so removal of the auditor cannot happen without the Reserve Bank's prior approval.
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