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GK
GK Set-1
Economics
Banking System
155

Banking System MCQ (GK Set-1) with Answers

155) If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:

RBI Act 1934

Banking companies Act

Companies Act 1956

Central Government

Answer is:

Companies Act 1956

Banking System MCQ (GK Set-1) with Answers

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Related Banking System MCQ (GK Set-1) with Answers

156) Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:

Public

Relatives in the from of loans

Friends

All of the above

Answer is:

Relatives in the from of loans

157) Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:

Section 7 of Banking Regulation Act

Section 7 of RBI Act

Section 7 of SEBI Act

Section 7 of Nationalization Act

Answer is:

Section 7 of Banking Regulation Act

158) In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act

Section 22 of banking Regulation Act

Section 22 of RBI Act

Section 22 of NABARD

KYC Guidelines by RBI

Answer is:

Section 22 of banking Regulation Act

159) Section 6(A) of B.R. Act has given the list of ancillary services which can be rendered by a Bank under the Banking Regulation Act. in the event that a Bank wants to undertake any other services (other than the list):

the bank can seek authority from the RBI

Board of directors of that Bank can decide the business suitable to the bank

it can be decided by the Bank in the shareholders meeting

Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company

Answer is:

Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company

Banking System MCQ (GK Set-1) with Answers

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