Home › IBPS Clerk › Banking Awareness › RBI Act & BR Act › Government business of a State is taken up by th…
Government business of a State is taken up by the Bank under:
AAn assessment
BAn assignment
CAn assurance
DAn agreement
Answer & Solution
Correct answer: D. An agreement
1. The Union's business comes to the Bank by the Act itself.
2. A State stands on a different footing.
3. Its business is taken on agreement, under section 21A.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
Related questions
Which section gives the Bank power of direct discount?Which section requires publication of a consolidated statement?Section 45Z provides that its Chapter shall do what to other provisions?Which section provides for the appointment of agents?Which section governs transactions in foreign exchange?Which section deals with obligations in respect of rupee coin?Which section covers the assets of the Issue Department?Which section allows a note series to cease to be legal tender?