In terms of section 5 1 c of the Banking Regulation Act 1949 a lsquo banking company rsquo means any...........

Professional Legal Knowledge Banking Regulation Act

In terms of section 5 (1)(c) of the Banking Regulation Act, 1949, a ‘banking company’ means any company which:

Transacts the business of banking in India

Undertakes lending of money

Accepts deposits from public and invests the same as trade and industry

Accepts deposits from the public

All of the above

As per section 5 (1) (c) of the Banking Regulation Act, 1949, “Banking company means any company which transacts the business of banking in India”.

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