Banking System MCQ (GK Set-1) with Answers

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:

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:

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

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):

Answer is:

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

160) Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:

Answer is:

Banking Regulation Act

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