The Banning of Unregulated Deposit Schemes Act, 2019 aims to provide a comprehensive mechanism for:
The long title states that the Act provides "a comprehensive mechanism to ban the unregulated deposit schemes" and to protect the interest of depositors. Licensing of…
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The Banning of Unregulated Deposit Schemes Act, 2019 aims to provide a comprehensive mechanism for:
Answer and explanation
Correct answer B
The long title states that the Act provides "a comprehensive mechanism to ban the unregulated deposit schemes" and to protect the interest of depositors. Licensing of non-banking financial companies and the regulation of chit funds remain under the Reserve Bank of India Act and the Chit Funds Act.