Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received as loan from a scheduled…
Section 2(4)(a) of the Banning of Unregulated Deposit Schemes Act excludes amounts received as loan from a scheduled bank, a co-operative bank, or any other banking company…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received as loan from a scheduled bank are:
Answer and explanation
Correct answer B
Section 2(4)(a) of the Banning of Unregulated Deposit Schemes Act excludes amounts received as loan from a scheduled bank, a co-operative bank, or any other banking company as defined in the Banking Regulation Act, so such loans are excluded from deposit, not included in it.