Question

Who amongst the following has asked banks to adopt ‘six step‘ approach to prevent diversion of funds by the companies?
1) Company Registrar
2)SEBI
3)RBI
4) AMFI
5)AIl of these

Answer 1

Please find the answer below:

RBI has asked banks to adopt ‘six step‘ approach to prevent diversion of funds by the companies.

Reserve Bank of India(RBI) is the central banking institution of India. It deals with making the monetary policy of India. It works under the Reserve Bank of India Act, 1934.