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Question
Which of the following securities comes under the provisions of the Banking Regulation Act, 1949?
Which of the following securities comes under the provisions of the Banking Regulation Act, 1949?
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Solution
The correct option is B Approved securities
Banks invest their surplus funds in three types of securities. Approved securities are those approved under the provisions of the Banking Regulation Act, 1949. These include securities of state associated bodies such as electricity boards, etc.
Approved securities
Banks invest their surplus funds in three types of securities. Approved securities are those approved under the provisions of the Banking Regulation Act, 1949. These include securities of state associated bodies such as electricity boards, etc.
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