Correct Answer : Option (A) - Banking Regulation Act
Note :
The Reserve Bank of India has imposed restrictions on withdrawals from Independence Co-operative Bank Limited, Nashik.
This step has been taken for six months due to the bank’s present liquidity position. As per the RBI, the restrictions will remain in force for a period of six months. This restriction has been imposed by the RBI on the provision of Banking Regulation Act, 1949.
