Section 29A of BRA : Section 29A: Power In Respect Of Associate Enterprises

BRA

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Explanation using Example

Imagine a scenario where 'FastTrack Bank' is a well-established banking company in India. The Reserve Bank of India (RBI), which is the regulatory authority for banks in India, has reasons to believe that 'Quick Loans Pvt. Ltd.', an associate enterprise of 'FastTrack Bank', is engaging in practices that may have an impact on the financial health of the bank.

Under Section 29A of the Banking Regulation Act, 1949, the RBI exercises its power by directing 'FastTrack Bank' to include detailed financial statements of 'Quick Loans Pvt. Ltd....

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