Section 35 of BRA : Section 35: Inspection
BRA
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Explanation using Example
Imagine a scenario where a local bank, "Community Savings Bank," has been reported to have suspicious activities and inconsistencies in their financial statements. The Reserve Bank of India (RBI), suspecting that the bank may not be adhering to regulatory standards, decides to conduct an inspection under Section 35 of the Banking Regulation Act, 1949.
The RBI deploys a team of auditors to examine the books, accounts, and affairs of Community Savings Bank. During the inspection, the bank's direct...
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