Banking Awareness Set 76 (Acts related to Banking)

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Banking Awareness Questions on Acts related to Banking Sector

This set contains important questions of Acts that are related to banking sector. Important questions for upcoming banks and insurance exams SBI PO, Dena bank, IBPS PO, IBPS Clerk, RRB PO and Clerk. Banking Acts Banking Awareness SBI IBPS

  1. The composition of central board of Reserve Bank of India is defined under Section ___ of RBI Act, 1934
    A) 6
    B) 5
    C) 7
    D) 8
    View Answer
    Option D
    Explanation    : Section 8
  2. The business that RBI can carry out is defined under which section of RBI Act, 1934?
    A) 14
    B) 15
    C) 16
    D) 17
    View Answer
    Option D
    Explanation    : Section 17
  3. RBI has the right to transact Central Government business in India as per which section of RBI Act, 1934?
    A) 20
    B) 21
    C) 22
    D) 23
    View Answer
    Option B
    Explanation    : 20. Obligation of the Bank to transact Government business.
    21. Bank to have the right to transact Government business in India.
    21A. Bank to transact Government business of States on agreement.
  4. RBI has the right to issue bank note under which section of RBI Act, 1934?
    A) 21
    B) 22
    C) 23
    D) 24
    View Answer
    Option B
    Explanation    : 22. Right to issue bank notes.
    24. Denominations of notes.
  5. RBI can withdraw the legal tender of any bank note under which section of RBI Act, 1934?
    A) Section 26 (1)
    B) Section 26 (2)
    C) Section 24 (1)
    D) Section 24 (2)
    View Answer
    Option B
    Explanation    : 26(1)- defines the legal tender
    26(2)- talks about withdrawal of legal tender
  6. Cash Reserve Ratio is defined under which section of RBI Act, 1934?
    A) 40
    B) 41
    C) 42
    D) 43
    View Answer
    Option C
    Explanation    : Section 42
  7. Repo and Reverse Repo are defined under which section of RBI Act, 1934?
    A) 43
    B) 44
    C) 45
    D) 46
    View Answer
    Option C
    Explanation    : Section 45(U)- repo, reverse repo, derivative, money market instruments and securities are defined
  8. Small Finance Banks are licensed under which act?
    A) Companies Act, 2013
    B) Banking Regulation Act, 1949
    C) Reserve Bank of India Act, 1934
    D) Foreign Exchange Management Act, 1999
    View Answer
    Option B
    Explanation    : licensed under Section 22 of the Banking Regulation Act, 1949 
  9. Holidays in banks are declared as per which act?
    A) Companies Act, 2013
    B) Banking Regulation Act, 1949
    C) Reserve Bank of India Act, 1934
    D) Negotiable Instruments (NI) Act, 1881
    View Answer
    Option D
    Explanation    : Negotiable Instruments (NI) Act, 1881
  10. General Lien of a banker is defined under section ___ of Contract Act, 1872
    A) 152
    B) 160
    C) 171
    D) 176
    View Answer
    Option C

 

 

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78 thoughts on “Banking Awareness Set 76 (Acts related to Banking)”

      1. Sachin Shukla

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          4. Sachin Shukla

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      2. PHENOMENAL

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        2. Sachin Shukla

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          2. Sachin Shukla

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          4. Naina

            Di ke kiske videos? pls mujhe bhi channel ka name batado. I’ll watch them for upcoming exams.

          14. Sachin Shukla

            haaa daily test and daily quiz koii padhai book se nahi sari padhai laptop se ….english k liye daily newspaper padho ab english total passage based and understanding pe ho gaya h no need to read grammar ….daily kmse km 2-3hrs paper pe do

          17. Sachin Shukla

            yrr tmhe pata to h sites AC, AZ, IBPSguide mai yahi tin dekhta jadaa bss aur to bhtt h but isme quality qsn…aur test series tm purchase nahi ki ho koi

          18. Naina

            BA se nahi karte quiz? ibps guide ka level kaisa hai.. meib toh pehle dekhi thi ye site bakwas lagi thi mujhe.

          23. Naina

            ibps ki mains ki test series available hi nahi h. apne kiski test series purchase ki h?

  5. AVI™ (Sinchen loveR)

    Nyc questions
    ab enko bi yaadh krna pdega act bi bank m job dege ya court m 😛

          5. PHENOMENAL

            Ap meri trh ho ma’am rsng maths eng k kya halchal h hm to pm dete h 4 hi diye bs isse Jada dene ka mn nhi hua itna high level

          7. AVI™ (Sinchen loveR)

            offline pdhte ho hardcopy se ya pdf ko laptop se ya video dhekh kr ?

          9. AVI™ (Sinchen loveR)

            gk ka to pta nhi ky hoga
            ky denge ye gk m soch -2 kr he tension ho rhi h 🙁

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