Interest rate on which of the following have been deregulated by RBI and decided by RBI? (i) DRI, (ii)
Ceiling rate on export credit, (iii) Ceiling rate on educational loans
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – c
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Loan which is made available for businesses or individuals to buy land, home or other property is classified as ……
a. secondary loan
b. primary loan
c. mortgages
d. swapped mortgages
Ans – c
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A taxi is financed by bank and it is hypothecated to bank. The taxi met with an accident and the passengers were injured. Compensation can be ……
a. claimed from the bank
b. can not be claimed from bank
c. claimed equally from Bank & Owner
d. Bank should pay the compensation and recover from the owner
Ans – b
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In case the secured creditor expects resistance, who can he request to take possession of the assets or documents ……
a. Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction the asset is located
b. Principal Junior Civil Judge within whose jurisdiction the asset is located
c. Assistant Civil Judge or Additional Civil Judge within whose jurisdiction the asset is located
d. Chief Judicial Magistrate within whose jurisdiction the asset is located
Ans – a
If there are more than one borrower, how should the demand notice be served?
a. Demand notice must be served only on those borrowers whose borrowing is more than 40% of the debt
b. Demand notice must be served on any one of the borrowers
c. Demand notice must be served on the person whose name appears first in the list
d. Demand notice must be served on all borrowers
Ans – d
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As per Consumer Protection Act 1986, ‘unfair trade practice’ includes
(i) falsely represents that the goods/services are of a particular standard, quality or grade
(ii) falsely represents any re-built, second-hand, reno•vated, reconditioned or old goods as new goods
(iii) represents that the goods or services have sponsor•ship, approval, performance, characteristics, accessories, uses or benefits which such goods or services do not have
a. (i) & (ii)
b. (i) & (iii)
c. (ii) & (iii)
d. (i), (ii) & (iii)
Ans – d
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According to which guidelines did the Government pick up the entire SBI shares held by the RBI?
a. National Stock Exchange of India
b. Securities Commission
c. Financial Regulations
d. Securities and Exchange Board of India (SEBI)
Ans – d
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A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?
a. Credit partners capital A/c
b. Credit partners current A/c
c. Debit the partners current A/c
d. Debit partners current A/c
Ans – d
A right to sue accurse to X during his minority, X dies before attaining the majority and is succeeded by Y, his minor son. Time runs against Y from the date of ……
a. X death
b. His attaining majority
c. Both a and b
d. None of above
Ans – b
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While exercising the right of Set off, the banker is advised to issue reasonable notice ……
a. to avoid wrongful return of cheque
b. to fulfill statutory requirements
c. to recover all the dues from the customer
d. to threaten the customer
Ans – a
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The obligations of public authorities under RTI Act 2005 includes? (i) It shall publish the powers and duties of its officers and employees, (ii) It shall publish the procedure followed in its decision making process, including channels of supervision and accountability, (iii) It shall publish the rules, regulations, instructions, manuals and records used by its employees for discharging its functions
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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The term “Fraud” means (i) Active concealment of fact with knowledge and belief of the fact, (ii)
Doing any act fitted to deceive
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – d
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