MCQOPTIONS
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| 1. |
The Union government has released a revised Draft titled ‘Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2016’. With reference to it, consider the following statements and choose the correct option. |
| A. | The revised bill proposes to establish an online database of information on deposit taking activity in the country. |
| B. | This bill deprives depositors of taking first charge on any asset created from the deposits. |
| C. | Prison term between 1 year and 15 years has been prescribed for various offences committed under this act in addition to a fine of up to Rs 20 crore. |
| D. | None of these |
| Answer» B. This bill deprives depositors of taking first charge on any asset created from the deposits. | |