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Which section of the Banking Regulation Act, 1949 prohibits banks from granting any loan or advance to any of its directors?

1. Section 20
2. Section 22
3. Section 23
4. Section 26

Correct answer: Section 20

Solution

Section 20 of the Banking Regulation Act, 1949 restricts banks from granting loans and advances to their directors and related concerns. This is a standard banking regulation question.

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