Skip to content

CS Professional · Banking and Insurance - Laws and Practice · Regulatory Framework of Banks

In a prosecution under the RBI Act, 1934, the complainant is an authorised RBI officer posted in Mumbai, and the Magistrate sits in Chennai. The officer's counsel asks that the officer need not attend every hearing. What does the Act provide?

The Magistrate may dispense with the personal attendance of the Bank officer who filed the complaint if he sees reason, but retains discretion to direct attendance at any stage of the proceedings. Attendance is neither compulsory throughout nor irrevocably waived.

  1. APersonal attendance of the Bank's officer is mandatory at every hearing
  2. BThe Magistrate may dispense with the officer's personal attendance but may direct it at any stage in his discretionCorrect
  3. CThe Magistrate can never direct attendance once it is dispensed with
  4. DOnly the High Court can dispense with attendance

Explanation

Section 58E(2) allows a Magistrate, if he sees reason, to dispense with the personal attendance of the Bank's officer filing the complaint, but he may at any stage direct personal attendance. Options stating mandatory attendance or a permanent waiver both misstate this.

Did you get it right without looking?

One question tells you little. A timed set on Regulatory Framework of Banks shows your real accuracy, how long you take and where you lose marks.

Practise Regulatory Framework of BanksFree diagnostic mock

More Regulatory Framework of Banks questions