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SYLBASS OF B. COM 2nd year FOR ALL UNIVERSITY OF M.P

SYLBASS OF B.COM 2nd year FOR ALL UNIVERSITY OF M.P

Explain the main provision of Banking Regulation Act 1949 ?

Explain the main provision of Banking Regulation Act 1949 ? There are main Provision of Banking Regulation Act 1949 :- Use of words ‘bank’, ‘banker’, ‘banking’ or ‘banking company’ (Sec.7): According to Sec. 7 of the Banking Regulation Act, no company other than a banking company shall use the words ‘bank’, ‘banker’, ‘banking’ or ‘banking company’ and no company shall carry on the business of banking in India, unless it uses the above mentioned words in its name. 2. Prohibition of Trading ( Sec.8): According to Sec. 8 of the Banking Regulation Act, a banking company cannot directly or indirectly deal in buying or selling or bartering of goods. But it may, however, buy, sell or barter the transactions relating to bills of exchange received for collection or negotiation. 3. Disposal of banking assets (Sec.9): According to Sec. 9 “A banking company cannot hold any immovable property, howsoever acquired, except for its own use, for any period excee...

What is cryptocurrency ?

What is cryptocurrency ? A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network. Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many crypto...

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