alleryStart learning →Under s.31, by how much may the RBI extend the three-month period for returns?
AUp to one week
BUp to one month
CUp to three months
DUp to two years
Answer & Solution
Correct answer: C. Up to three months
The proviso lets the Reserve Bank extend the period by a further period not exceeding three months.
Keep practising Special Features of Audit of Banks and Non-Banking Financial Companies
Browse all Special Features of Audit of Banks and Non-Banking Financial Companies questions for CA Final, or explore more Auditing topics.
Related questions
Under s.17, what must a profitable bank do before declaring dividend?A bank trades in groceries for profit. Which section does this breach?Which of these is an example of a non-banking financial institution?An NBFC differs from a bank in that it is what?A loan is generally non-performing when payments of interest and principal are past due byWhich formula gives SLR? (DTL = demand plus time liabilities)Raising SLR is generally used by RBI for what purpose?The statutory liquidity ratio is expressed as a percentage of which bank amount?