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CMA Final · Corporate and Economic Laws · Laws and Regulations related to Banking Sector

Which of the following is a matter on which the Central Board of the RBI may make regulations under Section 58(2) of the RBI Act, 1934?

The Central Board may make regulations on the regulation of clearing-houses for banks, including post office savings banks, under Section 58(2)(p). Fixing repo rates, licensing banks and prescribing tax rates are not listed matters.

  1. AThe regulation of clearing-houses for the banks (including post office savings banks)Correct
  2. BThe fixing of the repo rate for commercial banks
  3. CThe licensing of new commercial banks
  4. DThe prescription of income-tax rates for banks

Explanation

Section 58(2)(p) lists regulation of clearing-houses for banks, including post office savings banks, as a regulation-making matter. The repo rate, bank licensing and income-tax rates are not among the matters listed in that sub-section.

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