Module: General Practice
Q1: Under which legislative act does the Reserve Bank of India (RBI) issue Master Directions on Counterfeit Notes, citing powers under Section 35A and Section 56?
✅ Correct Answer: B
The RBI issues these directions exercising powers under Section 35A and Section 56 of the Banking Regulation Act, 1949.
Understanding this legal basis is the first step in mastering the RBI Rules on Counterfeit Notes.
Understanding this legal basis is the first step in mastering the RBI Rules on Counterfeit Notes.