Section 22 of BRA : Section 22: Licensing Of Banking Companies
BRA
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Explanation using Example
Imagine a scenario where a new company, "QuickBank Financials," aims to establish a banking business in India. Before commencing operations, QuickBank must apply to the Reserve Bank of India (RBI) for a banking licence as mandated by Section 22 of the Banking Regulation Act, 1949.
QuickBank submits its application detailing its business model, management structure, and financial projections. The RBI reviews the application and conducts an inspection to ensure QuickBank meets th...
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