Banking Companies in India are governed by Banking Regulation act 1952.

Related MCQs

• Banking companies in India are governed by …………………..
• The banking regulation Act --.
• Every banking company incorporated in India must transfer to the Reserve fund a sum equivalent to not less than 25% of profit of each year before declaration of dividend.
• AS-17 segment reporting applies to those companies which have an annual turnover of Rs……….crores or more.
• Core banking system…………. system.
• Every banking company should prepare a balance sheet and profit and loss accounts as on……………..each year.
• The main function of a banking company are to accept deposits of money from the public and to lend or invest these deposits.
• Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
• The accounting standards Board (India) was formed by the Institute of Chartered Accountants of India in April---------------
• General insurance business in India is transacted by Life Insurance Corporation of India.