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

Under Section 45K(2), the RBI calls for particulars from Meridian Capital Ltd, a non-banking institution, relating to deposits it has received. Which of the following is NOT among the matters the sub-section expressly lists for such statements?

The educational qualifications of directors are not listed. Section 45K(2) covers deposit-related matters: the amount, the purposes and periods, and the rates of interest and other terms and conditions on which deposits are received by the non-banking institution.

  1. AThe amount of the deposits
  2. BThe rates of interest on which deposits are received
  3. CThe periods for which deposits are received
  4. DThe educational qualifications of the directorsCorrect

Explanation

Section 45K(2) lists the amount of deposits, the purposes and periods, and the rates of interest and other terms and conditions. Director qualifications are not listed and do not relate to deposits. The first three options are all expressly mentioned.

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