1. Legal & Regulatory Aspects of Banking – JAIIB part-1

1. Which of the following are two essential functions of banks as indicated in Section 5(b) of banking Regulation Act (a) accept deposits & to lend or invest such deposits (b) accept deposit & undertake non-fund based business (c) accept deposits and undertake remittance business (d) lend & invest and issue letters of credit:

2. Which of the following group is not included in term goods, as per Sale of Goods Act:

3. A suit is deemed to have been instituted (filed) in a court:

4. Other than the business specified u/s 6 (1) of Banking Regulation Act, a bank can undertake any other business which can be prescribed / decided by (a) Central Govt. (b) RBI (c) Board of the bank (d) Ministry of Corporate Affairs.

5. Private Sector banks are regulated by (a) Companies Act 1956 (b) Banking Regulation Act 1949 (c) RBI Act 1934 (d) banking Companies (Acquisition & Transfer of Undertakings) Act 1970:

6. As per Sale of Goods Act, the ____ goods mean the goods identified and agreed upon, at the time of a contract of sale is made:

7. Time required for obtaining a copy of the order or award shall be excluded while computing the limitation period for:

8. Which of the following are regulated by Banking Regulation Act 1949 (a) Public Sector Banks (b) State Bank Group banks (c) RRBs (d) Coop Land Mortgage Banks

9. In the context of Cooperative Banks, which of the following statements are correct (a) coop bank operating in one State obtains registration under State Coop Societies Act (b) for Coop banks operating in more than one State, Central Govt. appoints Registrar (c) Coop banks are under purview of B R Act u/s 56 (d) Where Coop bank is registered under DICGC Act, RBI can order its winding up.

10. Which of the following statement is a not correct: