Top 150+ Solved Banking and Finance 3 MCQ Questions Answer
Q. Regional rural bank means a regional rural bank established under section 3 of the Regional RuralBanks Act, __________.
a. 1974
b. 1975
c. 1976
d. 1977
Q. Reserve Bank means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act,_________.
a. 1934
b. 1935
c. 1945
d. 1946
Q. In case of banking company incorporated outside India, aggregate value of its paid-up capital andreserve shall not be less than Rs. __________.
a. 5 Lakhs
b. 12 Lakhs
c. 15 Lakhs
d. 18 Lakhs
Q. In case of an Indian banking company, the sum of its paid-up capital and reserves if it has places ofbusiness in more than one State shall not be less than
a. 5 Lakhs
b. 12 Lakhs
c. 15 Lakhs
d. 18 Lakhs
Q. FATCA stands for
a. Foreign Account Tax Compliance Act
b. Foreign Account Trade Company Act
c. Financial Account Tax Compliance Act
d. Fiscal Account Tax Compliance Act
Q. As per the provisions of which act all financial institutions have to maintain a record for all form oftransactions?
a. Companies Act, 1956
b. Credit Information (Companies Regulation Act, 2005)
c. Information Technology Act, 2000
d. PMLA Act, 2002
Q. Which of the following Act refers to the acquisition and transfer of the undertakings of certainbanking companies?
a. Companies Act, 1956
b. Credit Information (Companies Regulation Act, 2005)
c. Banking Companies (acquisition and transfer of undertakings), 1970
d. Banking Regulation Act, 1949
Q. Which of the following is the clearing agency for Government securities?
a. GOI
b. RBI
c. CCIL
d. SEBI
Q. Banks are required to maintain SLR under which act?
a. Section 24 of the Banking Regulation Act
b. Section 35 of the Negotiable Instrument Act, 1881
c. Section 24 of RBI Act
d. Section 40 of Indian Contract Act, 1872
Q. It is a ----------------- obligation of a banker to honour the cheques of the customer drawn againstcurrent
a. Mutual
b. Statutory
c. Unstatutory
d. All of the above
Q. In India, the law regulating the Negotiable instruments are
a. Banking Regulation Act 1949
b. Reserve Bank of India Act 1934
c. Negotiable Instruments Act 1881
d. Companies Act 1956
Q. In Negotiable Instruments Act 1881, which section defines promissory note?
a. Section 1
b. Section 2
c. Section 3
d. Section 4
Q. The rate at which RBI discounts approved bill of exchange is
a. Bank rate
b. Interest rate
c. Exchange rate
d. Discount rate