Assertion: Banking in India is included in the union list.Reason: Only the union government makes laws related to banking.a)Both A and R are true and R is the correct explanation of A.b)Both A and R are true but R is not the correct explanation of A.c)A is correct but R is wrong.d)A is wrong but R is correct.Correct answer is option 'A'. Can you explain this answer?

Question

Answer

Statement 1: Banking is included in the Union List of the Indian Constitution. The Union List, also known as List-I, is a list of 100 items in the 7th schedule of the Constitution. The Union List includes subjects of national importance, such as banking, defense, foreign affairs, communications, and currency. This statement is correct.

Statement 2: The Union government makes laws related to banking. The Union List includes subjects of national importance, such as banking, foreign affairs, defense, communications, and currency. This statement is correct.

Answer

Because its not restricted to a

particular area its basically for the entire country as a whole.

India follows a federal and unitary form of government. ... Therefore, the legislative section in the Indian Constitution is divided into three lists. They are the Union List, the State List and the Concurrent List.

And also bcz they acquire common national interest.

That's y the option a is rgt.

Answer

Because finance ministry comes in the under of union list...and only union government can make laws related to the subjects in union list..

Answer

Banking in India is in Union list because a country needs uniform system of Banking throughout it. Let's assume that banks are not nationalised and restricted to a particular state. Now Imagine a Situation, when you are in other state and needs money urgently. Will you be able to get Money with restricted banking...?

No,

So Banks come in Union list and Union government makes laws.

I HOPE IT WILL HELP U...!!

Answer

Assertion: Banking in India is included in the union list.

Reason: Only the union government makes laws related to banking.

The correct answer is option 'A' - Both A and R are true and R is the correct explanation of A.

Explanation:
Banking in India is indeed included in the union list. Let's understand the background and reasoning behind this assertion and reason.

Background:
In India, the Constitution divides the legislative powers between the central government (Union) and the state governments. The Seventh Schedule of the Indian Constitution contains three lists: Union List, State List, and Concurrent List. Each list specifies the areas in which the Union government, state governments, or both can make laws.

Explanation of Assertion:
The assertion states that banking in India is included in the union list. This means that the central government has the exclusive authority to make laws related to banking in the country.

Explanation of Reason:
The reason states that only the union government makes laws related to banking. This is in line with the division of legislative powers mentioned earlier. As banking is included in the union list, it falls within the exclusive jurisdiction of the central government to legislate on matters related to banking.

Conclusion:
Both the assertion and reason are true, and the reason correctly explains the assertion. Banking in India is indeed included in the union list, and only the union government has the authority to make laws related to banking.

Answer

Subjects of national importance like defence, foreign affairs, atomic energy, banking, post and telegraph are included in the Union List.

Only the central government can pass laws on the subjects mentioned in the Union List because we need a uniform policy on important or national issues throughout the country.

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