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

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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1 Answer

Answer :

D. Payment and Settlement Systems Act (PSS Act), 2007 Explanation: The Overseas Principal should obtain necessary authorisation from the Department of Payment and Settlement Systems, Reserve Bank of India under the provisions of the Payment and Settlement Systems Act (PSS Act), 2007 to commence/ operate a payment system.
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To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under ________ A. Payment and Settlement Systems (PSS) Act 2007. B. Foreign Exchange Management Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above

Description : To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under ________ A. Payment and Settlement Systems (PSS) Act 2007. B. Foreign ... Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above

Last Answer : A. Payment and Settlement Systems (PSS) Act 2007. Explanation: To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of ... PSS) Act 2007. Bharat Bill Payment Operating Units (BBPOUs) will be the authorised operational units.

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.

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.

A Credit Bureau is governed by _________ 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. Credit Information Companies (Regulation) Act of 2005

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Last Answer : E. Credit Information Companies (Regulation) Act of 2005 Explanation: A Credit Bureau is governed by the Credit Information Companies (Regulation) Act of 2005.

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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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)

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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.

GSTN comes under which Act? (A) Banking Regulation Act 1949 (B) RBI Act 1934 (C) Indian Partnership Act, 1932 (D) Companies Act, 2013 (Ans : D) 45. Combined Stake of Central and State Government in GSTN is– (A) 20% (B) 25% (C) 49% (D) 51%

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Last Answer : (C) 49%

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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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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An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956

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CERSAI was registered as a government-licensed company, under section 25 of _________ A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

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Which of the following is governed by the provisions of Section 42 of the Reserve Bank of India Act, 1934? A. Bank rate B. Reverse Repo Rate C. SLR D. CRR E. None of the Above

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Which of the following defines the objectives of CERSAI? A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

Description : Which of the following defines the objectives of CERSAI? A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

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Issuance of stamp duty on bonds is under ________ A. The Companies Act, 1956 B. The Public Debt Act 1944. C. Indian Stamp Act 1899 (Central Act) D. Reserve Bank of India Act, 1934 E. Both (A) and (C)

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Last Answer : C. Indian Stamp Act 1899 (Central Act) Explanation: Issuance of stamp duty on bonds is under Indian Stamp Act 1899 (Central Act). A bond is transferable by endorsement and delivery without payment of any transfer stamp duty.

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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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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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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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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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.

Reserve Bank of India has granted in principle approval to the common service Centres to act as which operating unit to make bill payments in rural? A) Bharat Bill Payment B) National Bill Payment C) Non Banking Financial D) Mobile Banking Payment E) None of these

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Last Answer : A) Bharat Bill Payment Explanation: Reserve Bank of India has granted in-principle nod to the common service centres RBI (CSCs) as Bharat Bill Payment Operating Unit to make bill payments at centres in rural bands.

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.

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.

The law regarding negotiable instruments is contained in __________ A. The Bill of exchange Act 1881 B. The Banking Regulation Act 1949 C. Cheques Act, 1881 D. The Negotiable Instruments Act, 1881

Description : The law regarding negotiable instruments is contained in __________ A. The Bill of exchange Act 1881 B. The Banking Regulation Act 1949 C. Cheques Act, 1881 D. The Negotiable Instruments Act, 1881

Last Answer : D. The Negotiable Instruments Act, 1881 Explanation: The Negotiable Instruments Act, 1881 – An Act to define and Law relating to negotiable instruments which are Promissory Notes, Bills of Exchange and cheques.

The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar authentication number. Aadhaar enabled basic types of banking do not include A. Balance Enquiry B. Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

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Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services

Which bank has launched USSD based mobile app for basic banking needs with NPCI A) United Bank of India B) Union Bank of India C) UCO Bank D) Indian Bank E) Indian Overseas Bank

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Last Answer : B) Union Bank of India Explanation: National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in the country has partnered with Union Bank of India to ... customers and can be used even without any internet connection as it does not require any data.

Stamps used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply And Sale Rules, 1934, can be broadly divided into _______ categories. A. One B. Two C. Three D. All of the Above E. None of the Above

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Last Answer : B. Two Explanation: Stamps used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply And Sale Rules, 1934, can be broadly divided into two categories. Impressed stamps Adhesive stamps.

“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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Last Answer : C. Foreign Exchange Management Act Explanation: ―Hawala transactions‖ in India are prohibited under the provision of Foreign Exchange Management Act.

According to _________, Any person can also search and inspect the records maintained by the Registry on payment of fees. A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Both (A) and (B) D. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 E. None of these

Description : According to _________, Any person can also search and inspect the records maintained by the Registry on payment of fees. A. Securitisation and Reconstruction of Financial Assets and Enforcement of ... Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 E. None of these

Last Answer : D. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 Explanation: Any person can also search and inspect the records maintained by the ... are planning to purchase, is free of any loan/security interest created by a lender.

RNBC stands for _______ A. Residuary Non Banking Companies B. Reserve Non Banking Companies C. Reserve New Banking Companies D. Residuary New Banking Companies E. None of the Above

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Last Answer : A. Residuary Non Banking Companies Explanation: RNBC - Residuary non banking companies. Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the ... scheme or arrangement or in any other manner and not being investment, asset financing, loan company.

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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Last Answer : A. Section 24 of the Banking Regulation Act Explanation: SLR is governed by the provisions of Section 24 of the Banking Regulation Act. There is no minimum stipulation on SLR (earlier there used to ... with an amendment to the Banking Regulation Act in 2007). However, SLR can not exceed 40%.

The Imperial Bank of India, after its nationalization came to be known as : (1) Reserve Bank of India (2) State Bank of India (3) United Bank of India (4) Indian Overseas bank

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Last Answer : (2) State Bank of India Explanation: The State Bank of India, the largest banking and financial services company in India by revenue, assets and market capitalization: traces its ancestry to British India, ... with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India

Who is authorized to issue coins in India? (1) Reserve Bank of India (2) Ministry of Finance (3) State Bank of India (4) Indian Overseas Bank

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Last Answer : (2) Ministry of Finance Explanation: Coins may be coined at the Mint for issue under the authority of the Central Government, (of such denominations not higher than one hundred rupees), such ... the Ministry of Finance and bears the signature of the secretary. All currency notes are legal tender.

The Imperial Bank of India, after its nationalisation came to be known as : (1) Reserve Bank of India (2) State Bank of India (3) United Bank of India (4) Indian Overseas Bank

Description : The Imperial Bank of India, after its nationalisation came to be known as : (1) Reserve Bank of India (2) State Bank of India (3) United Bank of India (4) Indian Overseas Bank

Last Answer :  State Bank of India

Who is authorised to issue coins in India ? (1) Reserve Bank of India (2) Ministry of Finance (3) State Bank of India (4) Indian Overseas Bank

Description : Who is authorised to issue coins in India ? (1) Reserve Bank of India (2) Ministry of Finance (3) State Bank of India (4) Indian Overseas Bank

Last Answer : Ministry of Finance

Second Generation computers were developed during A) 1949 to 1955 B) 1956 to 1965 C) 1965 to 1970 D) 1970 to 1990

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Last Answer : Answer : B

Second generation computers were developed during A) 1949 to 1955 B) 1956 to 1965 C) 1965 to 1970 D) 1970 to 1990

Description : Second generation computers were developed during A) 1949 to 1955 B) 1956 to 1965 C) 1965 to 1970 D) 1970 to 1990

Last Answer : Answer : B

Which of the following is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously? A. Delivery versus Payment (DvP) B. Duration C. Convexity D. All of the Above E. None of the Above

Description : Which of the following is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously? A. Delivery versus Payment (DvP) B. Duration C. Convexity D. All of the Above E. None of the Above

Last Answer : A. Delivery versus Payment (DvP) Explanation: Delivery versus Payment (DvP) is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously. ... securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions.

Reserve Bank of India was nationalized in - (1) 1948 (2) 1947 (3) 1949 (4) 1950

Description : Reserve Bank of India was nationalized in - (1) 1948 (2) 1947 (3) 1949 (4) 1950

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When was the Reserve Bank of India nationalised? a. January 1, 1949 b. January 1, 1950 c. January 1, 1951 d. January 1, 1952

Description : When was the Reserve Bank of India nationalised? a. January 1, 1949 b. January 1, 1950 c. January 1, 1951 d. January 1, 1952

Last Answer : a. January 1, 1949

Reserve Bank of India was nationalised in (1) 1948 (2) 1947 (3) 1949 (4) 1950

Description : Reserve Bank of India was nationalised in (1) 1948 (2) 1947 (3) 1949 (4) 1950

Last Answer : 1949

The domestic standards evolved to deal with the issue of IDPs are a. The Disaster Management Act. 2005 b. Land Acquisition Amendment Bill c. National Rehabilitation and Resettlement Policy, 2007 ( NRRP ) d. All of above

Description : The domestic standards evolved to deal with the issue of IDPs are a. The Disaster Management Act. 2005 b. Land Acquisition Amendment Bill c. National Rehabilitation and Resettlement Policy, 2007 ( NRRP ) d. All of above

Last Answer : d. All of above

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Last Answer : A. Common Service Centres (CSC) Explanation: over 1.5 Lakh common service centres (CSC) or Digital Seva Kendres have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS).

Industrial (Development & Regulation) Act was passed by parliament in A. 1947 B. 1949 C. 1951 D. 1956

Description : Industrial (Development & Regulation) Act was passed by parliament in A. 1947 B. 1949 C. 1951 D. 1956

Last Answer : C. 1951

According to Reserve Bank of India Regulations, “Universal Banks” are permitted to pick up stake in Payment Banks up to _________ A. 35% B. 25% C. 20% D. 40% E. 30%

Description : According to Reserve Bank of India Regulations, “Universal Banks” are permitted to pick up stake in Payment Banks up to _________ A. 35% B. 25% C. 20% D. 40% E. 30%

Last Answer : E. 30% Explanation: RBI regulations allow universal banks to invest up 30 per cent in payments banks.

Which of the following banks has planned to commence urban microfinance operations in its 85 branches across the country? A) Yes Bank B) Kotak Mahindra Bank C) ICICI Bank D) Axis Bank E) None of these

Description : Which of the following banks has planned to commence urban microfinance operations in its 85 branches across the country? A) Yes Bank B) Kotak Mahindra Bank C) ICICI Bank D) Axis Bank E) None of these

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Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its people is called (a) bio-infringement (b) biopiracy (c) biodegradation (d) bioexploitation.

Description : Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its people is called (a) bio-infringement (b) biopiracy (c) biodegradation (d) bioexploitation.

Last Answer : b) biopiracy

Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its peoople is called (1) Bio-infringement (2) Biopiracy (3) Biodegradation (4) Bioexploitation

Description : Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its peoople is called (1) Bio-infringement (2) Biopiracy (3) Biodegradation (4) Bioexploitation

Last Answer : (2) Biopiracy

Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Description : Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Last Answer : d. Public or State Enterprises