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Introduction to Banking

Which of the ...

Question

Which of the following securities comes under the provisions of the Banking Regulation Act, 1949?

A

Government securities

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B

Approved securities

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C

Other securities

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D

None of the above

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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.

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