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Q:

As per Section 25 of the Banking Regulation Act, 1949, the assets in India of every banking company at the close of business on the last Friday of every quarter or, if that Friday is a public holiday, at the close of business on the preceding working day, shall not be less than ______ of its demand and time liabilities in India.

  • 1
    50%
  • 2
    25%
  • 3
    75%
  • 4
    10%
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Answer : 3. "75%"
Explanation :

The assets in India of every banking company at the close of business on the last Friday of every quarter or, if that Friday is a public holiday under the Negotiable Instruments Act, 1881 (26 of 1881), at the close of the business on the preceding working day, shall not be less than seventy-five per cent.

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