RBI has superseded the Board of Directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) under which of the following Section of RBI Act, 1934?

• A. Section 54-EE (1)
• B. Section 35-BE (1)
• C. Section 42-AE (1)
• D. Section 45-IE (1)

Answer: (D)

The Reserve Bank of India has superseded the Board of Directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) under Section 45-IE (1) of the Reserve Bank of India Act, 1934.