The Holidays for the Banks are declared as per `"______"`.

Options

A. Reserve Bank Act
B. Banking Regulation Act
C. Negotiable Instruments Act
D. Securities and Exchange Board of India Act

Answer

C

Explanation

In terms of Section 25 of the Negotiable instrument Act, 1881, the expression "public hoiday" include Sunday and any other day declared by the Central Government by notification in the Official Gazette to be a public holiday. However this power was delegated by the Central Government to state Governments vide the Government of India, Ministry of Home Affairs in June 1957.