1. Section 49-A of Banking regulation Act makes provisions for (a) declaration of bank rate (b)
restrictions on the type of business that the banks cannot undertake (c) no person other than a
bank is authorized to accept deposits withdraw able by cheque (d) acceptance of deposits by
a. A only
b. A and c only
c. C only
d. B only
Ans: c

2. Under Prevention of Money Laundering Act 2002, the banks are required to maintain record of
cash transactions of the value of ____-:
a. Rs.50000 and above
b. Rs.1 lac and above
c. Rs.10 lac and above
d. Above Rs.10 lac
Ans: d

3. Banks can undertake permitted business activities u/s 6 (1) of B R Regulation such as (a) buying
or selling of bullion (b) undertake and execute trusts (c) undertake the administration of
estates as executors, trustee (d) providing of safe deposit vaults:
a. A, b and c only
b. B, c and d only
c. A, c and d only
d. A to d all
Ans: d

4. Where the parties are yet to perform their mutual promises, in respect of sale & purchase of
goods, it is called:
a. Sale
b. Agreement to sell
c. Intention to sell
d. Contract of sale
Ans: b

5. Which of the following statute and constitution of the respective bank does not match:
a. Nationalized banks- Banking Companies Act 1969
b. State bank of India- SBI Act 1955
c. State bank Associate Banks – State Bank (Subsidiary Banks ) Act 1955
d. RRBs- RRB Act 1976
Ans: a

6. For the purpose of Limitation Act, filling of suit include:
a. A suit in a court
b. Appeal against the decree of a court
c. Applications
d. All the above
Ans: a

7. Under provisions of Prevention of Money Laundering Act 2002, who appoints the director for
tracking money laundering
a. Reserve Bank of India
b. Central Bureau f of Investigation
c. Central Govt.
d. Each State Govt. concerned
Ans: c

8. Which of the following statements regarding RBI is not correct:
a. RBI has the authority to issue license to banks
b. Entire capital of RBI is held by Central Govt. & State Governments
c. Central Govt. appoints the governor of RBI
d. Central Govt. can issue directions to RBI under RBI Act
Ans: b

9. Central Govt. has certain powers to regulate banks. Which of the following is not such power:
a. Suspend the operations of Banking Regulation Act
b. Notification of other forms of business which the banks may undertake u/s 6 (o) of RBI Act
c. Making of rules for various banking operations u/s 52 and 45-Y of B R Act
d. Suspension of business and amalgamation of banks
Ans: b

10. Which of the following statements are correct:
a. Central Govt. can give direction to RBI
b. Banking business of all types is regulated by RBI
c. The primary regulator of banks is Central Govt. and RBI
d. If a banking license is cancelled, the appeal lies to RBI
AnsL a

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