Tuesday, 24 November 2015

Latest IBPS Bank Jobs in India : Questions and Answers for : Banking Awareness (IBPS Clerk) Quiz - 24

1. Banks are required to preserve the old records. The rules regarding preservation are framed by Central Govt., as per provisions of which of the following Act?
(a) Indian Evidence Act
(b) Limitation Act
(c) Banking Regulation Act
(d) RBI Act
(e) Negotiable Instrument Act 1881

2. Under Section 5(a) of the Banking Regulation Act 1949, approved securities denote
(a) Securities approved by Indian Banks Association
(b) Securities defined under section 20 of the Indian Trusts Act 1882
(c) The securities approved by IDBI
(d) None of these

3. On the basis of powers drawn mainly in which of the following Acts, RBI regulates and controls the banks in India?
(a) Banking Regulation Act and RBI Act
(b) RBI Act and Companies Act
(c) Banking Regulation Act and Companies Act
(d) Banking Regulation Act, RBI Act and Negotiable Instruments Act
(e) None of these

4. Banks can undertake the business of banking and ‘banking’ as a term has been defined under _____ of
(a) Banking Regulation Act Section 5(b)
(b) Banking Regulation Act Section 17
(c) RBI Act Section 2(2)
(d) Negotiable Instruments Act Section 1
(e) None of these

5. Banks have prohibited to staple bank notes by RBI by issuing strict directives for implementation. Under which of the following, these directives have been issued?
(a) Section 35 A of Indian Currency Act
(b) Section 35 A : Negotiable Instrument Act
(c) Section 35 A of Banking Regulation Act
(d) Section 35 of Reserve Bank of India Act
(e) None of these

6. All banking company are to prepare balance sheet and profit & loss account as on Mar 31 every year is prescribed in
(a) Companies Act 1956
(b) 2nd schedule of RBI Act 1934
(c) Banking Regulations Act
(d) None of the above

7. The annual return of unclaimed deposits u/s 26 of Banking Regulation Act should be submitted to RBI within the following days after close of the calendar year
(a) 15 days
(b) 23 days
(c) 30 days
(d) 45 days

8. A cheque is defined u/s ____ of NI Act
(a) 6
(b) 13(a)
(c) 3
(d) 10
(e) 9

9. Legal amount in a cheque stands for
(a) amount in words
(b) amount in figures
(c) amount written as not over
(d) amount in words in figures, whichever is higher

10. On a cheque issued by a customer, the words bearer or order are not written. This cheque will be treated as
(a) A bearer cheque
(b) An order cheque
(c) This is not a valid cheque
(d) This is not a negotiable instrument now

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