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The maximum number of partners allowed in the banking business are
- a)Ten
- b)No limit
- c)Twenty
- d)Two.
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
The maximum number of partners allowed in the banking business area)Te...
The correct answer is 10 .The new Companies Act 2013 has prescribed the maximum number of members in case of a partnership firm should not be more than 100 in case of partnerships. As per the previous Companies Act 1956, the maximum limit in case of partnerships was 10 and 20 for banking business and other businesses respectively.
Most Upvoted Answer
The maximum number of partners allowed in the banking business area)Te...
Partnership in Banking Business
In a partnership, two or more individuals join together to start a business. In the banking business, partnerships are formed to start a bank or a financial institution. The number of partners allowed in the banking business is limited by law.
Maximum Number of Partners
The maximum number of partners allowed in the banking business is ten. This means that a bank or a financial institution can have a maximum of ten partners. This rule is applicable to both private and public sector banks in India.
Reason for Limit
The reason for limiting the number of partners in the banking business is to ensure that the management and control of the bank remain in the hands of a few individuals. Too many partners can lead to conflicts and disagreements, making it difficult to run the bank efficiently.
Conclusion
In conclusion, the maximum number of partners allowed in the banking business is ten. This rule applies to both private and public sector banks in India. The reason for limiting the number of partners is to ensure that the bank is managed efficiently and that there are no conflicts or disagreements among the partners.
In a partnership, two or more individuals join together to start a business. In the banking business, partnerships are formed to start a bank or a financial institution. The number of partners allowed in the banking business is limited by law.
Maximum Number of Partners
The maximum number of partners allowed in the banking business is ten. This means that a bank or a financial institution can have a maximum of ten partners. This rule is applicable to both private and public sector banks in India.
Reason for Limit
The reason for limiting the number of partners in the banking business is to ensure that the management and control of the bank remain in the hands of a few individuals. Too many partners can lead to conflicts and disagreements, making it difficult to run the bank efficiently.
Conclusion
In conclusion, the maximum number of partners allowed in the banking business is ten. This rule applies to both private and public sector banks in India. The reason for limiting the number of partners is to ensure that the bank is managed efficiently and that there are no conflicts or disagreements among the partners.
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Community Answer
The maximum number of partners allowed in the banking business area)Te...
Maximum 10 partners allowed in the banking business According to the company act.
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The maximum number of partners allowed in the banking business area)Tenb)No limitc)Twentyd)Two.Correct answer is option 'A'. Can you explain this answer?
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