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Under section 19 the Bank may not allow interest on:
AClearing accounts
BContract accounts
CCurrent accounts
DCurrency accounts
Answer & Solution
Correct answer: C. Current accounts
1. The bar is the last of the six in that section.
2. It covers deposits as well.
3. The Bank may not allow interest on current accounts.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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