01. Identify the Act which regulates entry into banking business by licensing. A banking Regulation Act, 1949
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INDIAN INSTITUTE OF BANKING & FINANCE JAIIB MODULE (A & B) LEGAL ASPECTS OF BANKING OPERATIONS Thursday, 06 April, 06 T M C VASUDEVAN firstname.lastname@example.org
01. Identify the Act which regulates entry into banking business by licensing.
02.. Raj has appointed Kumar as the nominee for his Fixed deposit, whereas Kunwar was appointed as the nominee for the Safe deposit Locker contents. Incase Kumar dies .
03.. Suraj has approached the drawee bank to handover the original cheque issued by him and since paid to the debit of his account.
04.. The Scheduled banks have to submit their returns to the Reserve Bank of India about their demand and time liabilities as per the provisions of the
05.. As per the provisions of the Reserve Bank of India Act,1934, a banking company to file within 30days of the close of each financial year a return of unclaimed deposits.
06.. In case of winding up of the banking company, each depositor will have to make the claim within 15days of the winding up order.
07.. Making any false statement in any return, balance sheet or other documents or information given under the BR act (sec46) punishable.
08..The State Bank of Hyderabad has been established as per the provisions of
09.. For State Bank Of India Audit who can be eligible to conduct Audit.
10..State Bank of Mysore was established as per the provisions of
11.. The Commercial Banks were Nationalised as per
12.. The State Bank of India is empowered under Section 47 to inspect the subsidiary banks.
13..The issued capital of the Regional Rural Bank is held as 15 %:50%:35% by
14..The Licensing part of the Co-operative Banks is looked after by the
15..Displaying of an audited balance sheet to be done not later than the first Monday in October of any where the banking business held.
16.. As per BR Act the return on Liquid Assets to be filed within
17.. Banking Ombudsman is
18.. * A Co-operative Bank functioning in more than one State is known as
19.. Garvita has issued a cheque favouring Deva for Rs.27750/= The cheque has been otherwise in order and the account has enough balance.
20.. V & S are holding a joint Savings Bank account with bank U. A cheque has been paid by the said bank in clearing, bearing two signatures of both S& V. After some days it was identified that S’s signature has been forged. The Paying Bank’s protection
21.. After paying a cheque it has come to t he notice of the bank that one of the endorsements has been forged.
22.. Which cannot be transferred by way of an assignment
23.. A cheque has been paid bearing a visible alteration on the date and words. The bank
24.. As per Section 89 of NI Act,1881 a bank can seek protection only if there is a material alteration in the cheque and does not appear to have been altered.
25.. Bank K opened an account 13 months ago. The bank had obtained the signature of an existing account holder of another branch in the application form. They did not make proper enquiries . When the banker collected a demand draft on which the payment was released. After few days the bank came to know that the said demand draft was so altered as to place of payment as well as amount.
26.. An arbitrator under Banking Ombudsman
27.. A performance guarantee has been issued on behalf of its client. The guarantee has been invoked by the beneficiary. There is no sufficient balance in the account of the client.
28..On a Bank Guarantee, the court will not interfere, since it is a commitment by an individual banker to the beneficiary.
29..Reimbursing bank is appointed by
30.. The Red Clause LC and Green Clause LC are one and the same.
31..The Combined Transport Bill is known as
32.. The issuing bank should advise the credit and any amendments there to through
33.. All Letter of Credits need not contain a clause of last date of shipment and expiry.
34..Both Bank guarantee and Letter of Credit are
35..The Guarantees could be
36.. As per the provisions of the NI Act,1881, if no rate of interest is specified in the instrument , interest due thereon shall be calculated at the rate of
37..Which instrument need not be stamped?
38.. The Sec 130 of the Transfer of Property Act, permits assignment of
39..A Private Ltd Company has availed Certain credit facilities including a supply bill limit of Rs.5.00 lacs. Then
40.. One of the following need not be accepted . Identify
41..Which is correct?
42..Generally the banker as a Creditor will have the right and not the possession in respect of
43..In which type of mortgage possession is with the mortgagor.
44..A bank relying on the contents of their Pledge agreement, have sold the gold ornaments without intimating the owner.
45..Which one is not correct
46..Which statement is correct?
47.. On Minor’s deposit a loan can be considered
48..One of the partners of UMTV & Co died in UK. Then the operation in the account
49.. Banker has to be more careful in handling
50..Bank GT has terminated the overdraft account of the borrower since his operation in the account has not been satisfactory.
51.. Which type of finance to a Limited Company charge need not be registered with ROC.
52.. A person has been appointed as the Manager of the property charged. He has to give notice to the Registrar of Companies within
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