“Hawala transactions” in India are prohibited under the provision of which of the following acts? A. Banking Regulation Act B. Financial Action Task Force Act C. Foreign Exchange Management Act D. All of the Above E. None of the above

“Hawala transactions” in India are prohibited under the provision of which of the following acts? A. Banking Regulation Act B. Financial Action Task Force Act C. Foreign Exchange Management Act D. All of the Above E. None of the above
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1 Answer

Answer :

C. Foreign Exchange Management Act Explanation: ―Hawala transactions‖ in India are prohibited under the provision of Foreign Exchange Management Act.
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Which allows banks and other financial institution to auction residential or commercial properties to recover loans? A. Industrial Disputes Act 1947 B. Foreign Exchange Management Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above

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Last Answer : D. SARFAESI Act, 2002 Explanation: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the SARFAESI Act) is an ... allows banks and other financial institution to auction residential or commercial properties to recover loans.

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The agency which is tasked with collecting analysing and disseminating information related to dubious financial transactions is ________ A. Financial Intelligence Unit(FIU) B. Financial Action Task Force(FATF) C. Central Economic Intelligence Bureau(CEIB) D. Central Intelligence Bureau(CIB) E. Financial Stability Board(FSB)

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SMERA has been registered under _______ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 E. None of these

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Last Answer : D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 Explanation: SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.

Under which Act are the KYC norms implemented? A. SEBI Act 1992 B. Foreign Contribution and Regulation Act, 1976 C. Prevention of Money laundering Act 2002 D. Banking Regulation Act, 1949 E. Both (C) and (D)

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Last Answer : B. (iii), (i), (iv) and (ii)

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Last Answer : f) Foreign Exchange Management Act, 1999

The latest government regulation in the telecommunication which provides policy for the provision of local exchange carrier service. A. E.O. 546 B. E.O. 109 C. Act 3948 D. E.O. 59

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Last Answer : B. E.O. 109

A government regulation in telecommunication which provide policy to improve the provision of local exchange carrier service. A. E.O. 109 B. Act 3846 C. E.O. 59 D. E.O. 546

Description : A government regulation in telecommunication which provide policy to improve the provision of local exchange carrier service. A. E.O. 109 B. Act 3846 C. E.O. 59 D. E.O. 546

Last Answer : A. E.O. 109

The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system? A. Reserve Bank of India Act–1934 B. Banking Companies (Acquisition and Transfer of Undertakings) Act–1970 C. Banking Regulation (Companies) Rules, 1949 D. Payment and Settlement Systems Act (PSS Act), 2007 E. None of the Above

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Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

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Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets under _______ of the Banking Regulation Act, 1949 A. Section 35A B. Section 25A C. Section 15A D. Section 30A E. None of the Above

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All banks registered under the ___________ are considered co-operative banks. A. Banking Regulation Act 1949 B. The Bankers‘Books Evidence Act–1891 C. Cooperative Societies Act, 1912 D. Both (B) and (C) E. None of the Above

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BCSBI registered as an independent and autonomous body under ________ A. RBI Act 1934 B. Societies Registration Act, 1860 C. Banking Regulation Act, 1949 D. The Companies Act, 1956 E. Both (B) and (C)

Description : BCSBI registered as an independent and autonomous body under ________ A. RBI Act 1934 B. Societies Registration Act, 1860 C. Banking Regulation Act, 1949 D. The Companies Act, 1956 E. Both (B) and (C)

Last Answer : B. Societies Registration Act, 1860 Explanation: BCSBI is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860.

RBI can inspect the branches of Banks under _______ of the Banking Regulation Act, 1949 A. Section 35 B. Section 25 C. Section 15 D. Section 30 E. None of the Above

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Last Answer : A. Section 35 Explanation: RBI can inspect the branches of Banks under section 35 of the Banking Regulation Act, 1949

The banks will be licensed as payments banks under ______ of the Banking Regulation Act, 1949. A. Section 21 B. Section 22 C. Section 23 D. Section 24 E. None of the Above

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Last Answer : B. Section 22 Explanation: The payment banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949 and will be registered as public limited company under the Companies Act, 2013.

The small finance banks will be licensed under ______ of the Banking Regulation Act, 1949. A. Section 21 B. Section 22 C. Section 23 D. Section 24 E. None of the Above

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Last Answer : B. Section 22 Explanation: The small finance banks will be licensed under Section 22 of the Banking Regulation Act, 1949.

A Shareholder has been defined by ________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. The companies act, 1956

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Last Answer : E. The companies act, 1956 Explanation: The Companies Act, 1956 ―Small Shareholder‖ means a shareholder holding shares of nominal value of twenty thousand rupees or less in a public company to which section 252 of the Act applies.

The rules framed in the Clayton‟s case have been incorporated in _________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. None of the Above

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Last Answer : D. Indian Contract Act, 1872 Explanation: The rules framed in the Clayton‘s case was incorporated in Section 59 of the Indian Contract Act, 1872.

FATF stands for ________ A. Financial Action Task Force B. Financial Asset Task Force C. Financial Asset Trade Force D. Financial Action Trade Force E. None of the Above

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Last Answer : A. Financial Action Task Force Explanation: The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d action financière (GAFI), is an ... organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

Banks are required to maintain SLR under_____ 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 E. None of the Above

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The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

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Last Answer : C. The Banking Regulation Act, 1949 Explanation: As per Section 5(b) of the Banking Regulation Act, 1949 , -banking means the accepting, for the purpose of lending or investment, of deposits ... the public, repayable on demand or otherwise, and withdraw-able by cheque, draft, order or otherwise.

Who among the following appoints the “Authorized Dealers” for foreign exchange transactions? A. GOI B. RBI C. PSBs D. FEDAI E. FIMMDA

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Last Answer : (4) Foreign Exchange Regulation Act (FERA) Explanation: The Foreign Exchange Regulation Act (FERA) which was passed by the Indian Parliament in 1973 imposed stringent regulations on dealings in foreign ... exchange and the import and export of currency. Ti was not a preventive detention act.

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Last Answer : d) All of the above

FERA is foreign exchange regulation act for _________. A. industries . B. small scale . C. labour. D. owner

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Last Answer : A. industries .

Indian Banking Regulation Act was passed in the year ___________ A. 1989 B. 1968 C. 1949 D. 1948

Description : Indian Banking Regulation Act was passed in the year ___________ A. 1989 B. 1968 C. 1949 D. 1948

Last Answer : C. 1949 Explanation: The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks.

Scheduled banks are required to keep cash reserve with RBI, interms of _______ A. Section 24 of the Banking Regulation Act, 1949 B. Section 20 of the Banking Regulation Act, 1949 C. Section 42(i) of the RBI Act, 1934 D. Section 42 of Negotiable Instruments Act

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Last Answer : C. Section 42(i) of the RBI Act, 1934 Explanation: Every bank included in the Second Schedule shall maintain with the Bank an average daily balance the amount.

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Last Answer : (D) Head Post Office

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Description : What does ECS in banking transactions stand for? (1) Excess Credit Supervisor (2) Extra Cash Status (3) Exchange Clearing Standard (4) Electronic Clearing Service

Last Answer : (4) Electronic Clearing Service Explanation: Electronic Clearing Service is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing ... tax, etc or for loan installments of financial institutions/banks or regular investments of persons.

What does ECS in banking transactions stand for ? (1) Excess Credit Supervisor (2) Extra Cash Status (3) Exchange Clearing Standard (4) lectronic Clearing Service

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Last Answer : (C) 49%

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The Banking Regulation Act was passed in India in

Description : The Banking Regulation Act was passed in India in

Last Answer : 1949

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Description : Barter transactions means - (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.

Last Answer : (4) Goods are exchanged with goods. Explanation: Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, ... crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce,

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Description : Barter transactions means (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.

Last Answer : Goods are exchanged with goods.

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Description : What is FEMA ? A. First Exchange Management Act B. Foreign Exchequer Management Act C. Foreign Exchange Management Act D. Foreign Evaluation Management Act

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Description : An intentional act by one or more individuals among management, employees, or third parties which results in misrepresentation of financial statements refers to a. Illegal acts b. Error c. Fraud d. Noncompliance

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When will the Foreign Exchange Control Act come into force ?

Description : When will the Foreign Exchange Control Act come into force ?

Last Answer : The Foreign Exchange Control Act came into force in 1973 .

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Description : The term noncompliance as used in PSA 250 refers to acts of omission or commission by the entity being audited, either intentional or unintentional, which are contrary to the prevailing laws ... misconduct (unrelated to the business activities of the entity) by the entity's management or employees

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In the United Kingdom, the Regulation of Investigatory Powers Act gives UK police the powers to force suspects to _____that protect encryption keys: a) Hand over passwords b) Decrypt Files c) Both of Above d) None of These

Description : In the United Kingdom, the Regulation of Investigatory Powers Act gives UK police the powers to force suspects to _____that protect encryption keys: a) Hand over passwords b) Decrypt Files c) Both of Above d) None of These

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In the United Kingdom, the Regulation of Investigatory Powers Act gives UK police the powers to force suspects to _____that protect encryption keys: a) Hand over passwords b) Decrypt Files c) Both of Above d) None of These

Description : In the United Kingdom, the Regulation of Investigatory Powers Act gives UK police the powers to force suspects to _____that protect encryption keys: a) Hand over passwords b) Decrypt Files c) Both of Above d) None of These

Last Answer : c) Both of Above

What is it that can act as a medium of exchange in transactions? -SST 10th

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