alleryStart learning →FCRA s.2(1)(c) borrows the meaning of 'bank' from which law?
ACompanies Act, 2013
BBanking Regulation Act, 1949
CReserve Bank of India Act
DForeign Exchange Act
Answer & Solution
Correct answer: B. Banking Regulation Act, 1949
Bank means a banking company under clause (c) of section 5 of the Banking Regulation Act, 1949.
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