Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context? A. Line of Credit B. Loan to Client C. Loan on Credit D. Letter of Credit

Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context? A. Line of Credit B. Loan to Client C. Loan on Credit D. Letter of Credit
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D. Letter of Credit Explanation: A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.
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B) CaixaBank Explanation: As per the agreement, they will expand banks‘ guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others.

Description : B) CaixaBank Explanation: As per the agreement, they will expand banks guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local ... finance and export credit agency finance, infrastructure finance and networking services, among others.

Last Answer : Recently an Indian bank launched next generation features on its app „iMobile‟ which will enable customers to instantly pay taxes and book railway tickets within the app. Name the bank. A) Federal Bank B) Punjab National Bank C) Kotak Mahindra Bank D) ICICI Bank E) Bandhan Bank

What is difference between banks & HFCs? A. HFCs cannot accept demand deposits B. It cannot issue cheques drawn on itself C. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of HFCs D. All of the Above E. None of the Above

Description : What is difference between banks & HFCs? A. HFCs cannot accept demand deposits B. It cannot issue cheques drawn on itself C. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of HFCs D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: HFCs are doing functions similar to banks as banks also provides housing loans. However, there are a few differences as given below: ♦ HFCs cannot accept demand ... Credit Guarantee Corporation(DICGC) is not available to depositors of HFCs, unlike in case of banks.

Payment Banks can not issue ________ A. Credit Card B. Debit Card C. loans D. Both (B) and (C) E. Both (A) and (C)

Description : Payment Banks can not issue ________ A. Credit Card B. Debit Card C. loans D. Both (B) and (C) E. Both (A) and (C)

Last Answer : E. Both (A) and (C) Explanation: Payment banks cannot issue loans and credit cards while at the same time current account and savings accounts can be operated by such banks.

The credit default spread method of valuation of a guarantee given by a parent company on behalf of its subsidiary involves estimating the value ____________. a) using credit default spread based on the credit rating of the subsidiary b) using credit default spread based on the credit rating of the guarantor c) based on probability of default d) of the guarantee using an option pricing model

Description : The credit default spread method of valuation of a guarantee given by a parent company on behalf of its subsidiary involves estimating the value ____________. a) using credit default spread based on ... guarantor c) based on probability of default d) of the guarantee using an option pricing model

Last Answer : a) using credit default spread based on the credit rating of the subsidiary

When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as___________ A. Consortium B. Syndication C. Multiple Banking D. Participation

Description : When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as___________ A. Consortium B. Syndication C. Multiple Banking D. Participation

Last Answer : A. Consortium Explanation: A banking syndicate formed by multiple banks, often from different countries, for the singular purpose of financing a specific project that is too large for any individual ... in the risk and the profits. Upon completion of the project the consortium bank is disbanded.

If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called _______ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Both (A) and (B)

Description : If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called _______ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Both (A) and (B)

Last Answer : C. Conditional Endorsement Explanation: If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called Conditional Endorsement.

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.

Which of the following services can be offered by Payment Banks? A. Debit Cards B. Online Banking C. Mobile Banking D. All of the Above E. None of the Above

Description : Which of the following services can be offered by Payment Banks? A. Debit Cards B. Online Banking C. Mobile Banking D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: Payments banks can issue services like ATM cards, debit cards online banking and mobile banking.

What is the maximum limit on cash payment that is to be made to the beneficiary under MTSS in India? A. Rs. 25,000 B. Rs. 15,000 C. Rs. 10,000 D. Rs. 40,000 E. Rs. 50,000

Description : What is the maximum limit on cash payment that is to be made to the beneficiary under MTSS in India? A. Rs. 25,000 B. Rs. 15,000 C. Rs. 10,000 D. Rs. 40,000 E. Rs. 50,000

Last Answer : E. Rs. 50,000 Explanation: Amounts up to INR 50,000/- may be paid in cash to a beneficiary in India. These can also be loaded on to a pre-paid card issued by banks. Any ... However, in exceptional circumstances, where the beneficiary is a foreign tourist, higher amounts may be disbursed in cash.

Examples of circumstances that may create self-interest threat include: a. Contingent fees relating to assurance engagements. b. A direct financial interest or material indirect financial interest in an assurance client. c. A loan or guarantee to or from an assurance client or any of its directors or officers. d. All of the above

Description : Examples of circumstances that may create self-interest threat include: a. Contingent fees relating to assurance engagements. b. A direct financial interest or material indirect financial interest in an assurance ... an assurance client or any of its directors or officers. d. All of the above

Last Answer : All of the above

Examples of circumstances that may create self-interest threat include: a. Contingent fees relating to assurance engagements. b. A direct financial interest or material indirect financial interest in an assurance client. c. A loan or guarantee to or from an assurance client or any of its directors or officers. d. All of the above

Description : Examples of circumstances that may create self-interest threat include: a. Contingent fees relating to assurance engagements. b. A direct financial interest or material indirect financial interest in an assurance ... an assurance client or any of its directors or officers. d. All of the above

Last Answer : All of the above

A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the accounting firm specializes in the audit of commercial banks. c. May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics

Description : A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the ... to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics

Last Answer : May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking.

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an ... bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Last Answer : Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting ... firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Last Answer : Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid

The beneficiary can expect to get credit for the NEFT transactions within ______business hours. A. 2 B. 3 C. 1 D. None of the Above

Description : The beneficiary can expect to get credit for the NEFT transactions within ______business hours. A. 2 B. 3 C. 1 D. None of the Above

Last Answer : A. 2 Explanation: The beneficiary can expect to get credit for the NEFT transactions within two business hours (currently NEFT business hours is from morning 8 AM to evening 7 PM on all week days ... morning 8 AM to afternoon 1 PM on Saturdays) from the batch in which the transaction was settled.

In the context of giving charity on behalf of someone unknowingly ? Is it necessary to inform or inform them if I give charity on behalf of their parents while they are alive ? Is it permissible to give charity on behalf of anyone other than one's parents? Can I do charity on behalf of another perso

Description : In the context of giving charity on behalf of someone unknowingly ? Is it necessary to inform or inform them if I give charity on behalf of their parents while they are alive ? Is it permissible to give ... on behalf of anyone other than one's parents? Can I do charity on behalf of another person ?

Last Answer : All praise is due to Allah. If he gives charity on behalf of another, it is not obligatory to inform that person about the charity. In the same way, it is not a condition to be charitable only on ... charity for both the living and the dead. Finished Nurun (14/303) from Alad Darb] Allah knows best.

Secure communication means a. Protect transmission of credit card number b. Guarantee privacy of customer c. Unauthorized access of payment details d. All the above

Description : Secure communication means a. Protect transmission of credit card number b. Guarantee privacy of customer c. Unauthorized access of payment details d. All the above

Last Answer : d. All the above

The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment.” These are the words coined by A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Description : The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment. ... by A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Last Answer : ANSWER: C

The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment.” These are the words coined by A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Description : The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment. ... by A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Last Answer : ANSWER: C

The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment.” These are the words coined by 7 A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Description : The vision of a common nationhood for India is a beautiful ideal and has a poetic appeal, but looking into the present conditions and the unconscious trends of the two communities appears incapable of fulfilment. ... 7 A. Muhammad Ali Jinnah B. Sir Syed Ahmad Khan C. Allama Iqbal D. None of them

Last Answer : ANSWER: C

For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as _______ A. White Label ATMs B. Ultra Small Branches C. Banking Kiosks D. CBS Terminals E. ICT Hubs

Description : For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as _______ A. White Label ATMs B. Ultra Small Branches C. Banking Kiosks D. CBS Terminals E. ICT Hubs

Last Answer : B. Ultra Small Branches Explanation: Ultra Small Branches may be set up between the base branch and BC locations so as to provide support to about 8-10 BC Units at a reasonable distance ... for operating large customer transaction and would have to be managed full time by bank officers/ employees.

A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

Description : A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

Last Answer : C. Shadow Banking System Explanation: A shadow banking system refers to the financial intermediaries involved in facilitating the creation of credit across the global financial system but ... oversight. The shadow banking system also refers to unregulated activities by regulated institutions.

Which of the following does not affect the fund flow statement a) Issue of shares b) Borrowing c) Repayment of loan d) Payment to creditors

Description : Which of the following does not affect the fund flow statement a) Issue of shares b) Borrowing c) Repayment of loan d) Payment to creditors

Last Answer : d) Payment to creditors

What's the difference between a bank guarantee and a letter of credit?

Description : What's the difference between a bank guarantee and a letter of credit?

Last Answer : Letter of credit is a financial paper for guaranteed payments, whereas a bank guarantee is a guarantee given by the bank to the beneficiary on account of the applicant, to begin payment if the applicant defaults in payment. If you're looking for one, then Pepagora Trade Finance offers these services

Change of Beneficiary Letter?

Description : Change of Beneficiary Letter?

Last Answer : Get StartedAs the owner of an insurance policy, you may want to make changes to your beneficiaries. Usually the insurance policy, an insurance company rule, or a state law requires that certain ... NameOwner's NameName of the Primary Beneficiary (This can be either a proper name, like Jane

Which of the following is not likely a threat to independence? a. Acting as an advocate on behalf of an assurance client in litigation or in resolving disputes with third parties. b. Long association of a senior member of the assurance team with the assurance client. c. Threat of replacement over a disagreement with the application of an accounting principle. d. Owning immaterial indirect financial interest in an audit client.

Description : Which of the following is not likely a threat to independence? a. Acting as an advocate on behalf of an assurance client in litigation or in resolving disputes with third parties. b. ... the application of an accounting principle. d. Owning immaterial indirect financial interest in an audit client.

Last Answer : Owning immaterial indirect financial interest in an audit client.

Which of the following is not likely a threat to independence? a. Acting as an advocate on behalf of an assurance client in litigation or in resolving disputes with third parties. b. Long association of a senior member of the assurance team with the assurance client. c. Threat of replacement over a disagreement with the application of an accounting principle. d. Owning immaterial indirect financial interest in an audit client.

Description : Which of the following is not likely a threat to independence? a. Acting as an advocate on behalf of an assurance client in litigation or in resolving disputes with third parties. b. ... the application of an accounting principle. d. Owning immaterial indirect financial interest in an audit client.

Last Answer : Owning immaterial indirect financial interest in an audit client.

What happens when the beneficiary of a will refuses to accept the terms of the bequest?

Description : What happens when the beneficiary of a will refuses to accept the terms of the bequest?

Last Answer : I would say it would go to the next beneficiary should one be named. If not that, held in some fiduciary fund for a time in case the original named beneficiary changes their mind and capitulates. If they ... it, but my guess is that the state will figure a way to knee hook it for the government.

The contractor provides the financing and is paid an agreed fraction of actual savings achieved. This payment is used to pay down the debt costs of equipment and/or services. This is known as a) traditional contract b) extended technical guarantee/service c) performance Contract d) shared savings performance contrac

Description : The contractor provides the financing and is paid an agreed fraction of actual savings  achieved. This payment is used to pay down the debt costs of equipment and/or services.  ... contract b) extended technical guarantee/service c) performance Contract d) shared savings performance contrac

Last Answer : d) shared savings performance contrac

If the property ordered to be attached is a immovable property, the attachment under this section shall be made a) By taking possession b) By the appointment of a receiver c) By an order in writing prohibiting the payment of rent on delivery of property to the proclaimed person or to any one on his behalf d) By all or any two of such methods as the court thinks fit

Description :  If the property ordered to be attached is a immovable property, the attachment  under this section shall be made a) By taking possession b) By the appointment of a receiver  c) By an order in writing ... any one on his behalf d) By all or any two of such methods as the court thinks fit

Last Answer : d) By all or any two of such methods as the court thinks fit

If a MO is received payable to a minor a) It can be paid to the minor if he is old enough to understand the nature of the transaction b) When the minor is under years of discretion and is living with his parents, payment will be made to his parents on signing the MO on behalf of the minor c) When the minor is under years of discretion and is not living with his parents, payment can be made to person in whose care the minor is living on getting an undertaking d) All the above

Description : If a MO is received payable to a minor a) It can be paid to the minor if he is old enough to understand the nature of the transaction b) When the minor is under years of discretion and is living ... can be made to person in whose care the minor is living on getting an undertaking d) All the above

Last Answer : d) All the above

Budget card requires monthly payment on behalf of that ______.(a) holder b) banker c) seller)

Description : Budget card requires monthly payment on behalf of that ______.(a) holder b) banker c) seller)

Last Answer : (a) holder

Kotak Mahindra Bank has enabled which of the following banks online shopping portal on its mobile banking app to provide seamless shopping experience for its customers? A) Flipkart B) Snapdeal C) Amazon India D) Ebay India E) Mytra

Description : Kotak Mahindra Bank has enabled which of the following banks online shopping portal on its mobile banking app to provide seamless shopping experience for its customers? A) Flipkart B) Snapdeal C) Amazon India D) Ebay India E) Mytra

Last Answer : A) Flipkart Explanation: Private sector lender Kotak Mahindra Bank has enabled online shopping portal Flipkart in its mobile banking application in order to ensure a seamless shopping experience for its ... mode. Through this integration the bank will try to solve that problem for our customers.

A very large loan extended by a group of small banks to a single borrower is known as ______ A. Secured loan B. Syndicated loan C. Non-Recourse loan D. No Documentation loan

Description : A very large loan extended by a group of small banks to a single borrower is known as ______ A. Secured loan B. Syndicated loan C. Non-Recourse loan D. No Documentation loan

Last Answer : B. Syndicated loan Explanation: A syndicated loan is a loan offered by a group of lenders (called a syndicate) who work together to provide funds for a single borrower. The borrower could be a ... government). The loan may involve fixed amounts, a credit line, or a combination of the two.

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

Description : 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

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.

Which of the following institutions do not hold a banking license? A. Small Banks B. Foreign Banks C. Commercial Banks D. NBFCs

Description : Which of the following institutions do not hold a banking license? A. Small Banks B. Foreign Banks C. Commercial Banks D. NBFCs

Last Answer : D. NBFCs Explanation: Non-banking financial companies, or NBFCs, are financial institutions that provide banking services, but do not hold a banking license. These institutions are not allowed to take deposits from the public.

C) Doha Bank Explanation: A Qatar-based Indian banker has been awarded for his contribution in environment friendly activities and for promoting green economy for nearly two decades. R Seetharaman, Group CEO of Doha Bank, was honoured with the ‗Green Economy Visionary award‘ at the 2016 Union of Arab Banks International Banking Summit held in Rome.

Description : C) Doha Bank Explanation: A Qatar-based Indian banker has been awarded for his contribution in environment friendly activities and for promoting green economy for nearly two decades. R Seetharaman, ... Visionary award at the 2016 Union of Arab Banks International Banking Summit held in Rome.

Last Answer : The Department of Posts launched a logo and tagline design contest for its soon-tobe set up India Post Payments Bank on which of the following website? A) GovPost B) IndianPost C) MyGov D) PayPost E) None of these

What is the purpose of KYC in banking? A. It is used for customer identification B. It is used for increasing the CRR of banks C. It is used against money laundering D. It is used by the central bank to control liquidity E. Both (A) and (C)

Description : What is the purpose of KYC in banking? A. It is used for customer identification B. It is used for increasing the CRR of banks C. It is used against money laundering D. It is used by the central bank to control liquidity E. Both (A) and (C)

Last Answer : E. Both (A) and (C) Explanation: Know your customer (KYC) is the process of a business verifying the identity of its clients. Know your customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.

_______ refers to the system in which two are more banks are brought under common control by a device other than the holding company? A. Chain Banking B. Group Banking C. Mixed Banking D. Branch Banking E. None of the Above

Description : _______ refers to the system in which two are more banks are brought under common control by a device other than the holding company? A. Chain Banking B. Group Banking C. Mixed Banking D. Branch Banking E. None of the Above

Last Answer : A. Chain Banking Explanation: Chain Banking refers to the system in which two are more banks are brought under common control by a device other than the holding company.

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

Description : 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

Last Answer : C. Cooperative Societies Act, 1912 Explanation: Co-operative banks operate in both urban and non-urban areas. All banks registered under the Cooperative Societies Act, 1912 are considered co-operative banks ... approved bylaws and amendments.co-operative banks work on a -no profit, no loss basis.

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

Description : 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

Last Answer : C. Both (A) and (B) Explanation: Co-operative banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965

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

Description : 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

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%.

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

Description : 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

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.

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

Description : 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

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

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

Description : 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

Last Answer : A. Section 35A Explanation: The Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets. It has issued a directive to banks under Section 35A 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

Description : 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

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

Description : 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

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

Which of the following is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers?. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Description : Which of the following is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers?. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Last Answer : C. NUUP Explanation: NUUP (National Unified USSD Platform) is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers.