What does the letter 'R' denote in the abbreviation 'BR Act' which controls banking activities in the country?

a. Reclamation

b. Reformation

c. Regulation

d. Rule

ANSWER: Regulation

Explanation:

Winding up of a banking company is done under the provisions of the Banking Regulation Act, 1949. The reasons for this are inability to pay its debts; moratorium placed on the bank or failure to comply with minimum capital adequacy; failure to comply with requirements of Banking Regulation Act.