1. Legal & Regulatory Aspects of Banking – JAIIB part-3


    Welcome to your 1. Legal & Regulatory Aspects of Banking - JAIIB part-3

    RBI cannot give directions to banks for loans and advances in respect of which of the following:

    As per Sale of Goods Act, the ______ of the seller is terminated when the buyer gets possession of the goods:

    Banks are required to transfer a part of their profits to a Reserve Fund (a) u/s 17-1 of B R Act (b) the amount to be transfer is 20% of such profits (c) profits for this purpose are after payment of dividend (d) Central Govt. can exempt a bank from such transfer on RBI recommendations. Which of these is correct:

    Which of the following information regarding return of service tax is correct:

    If a security is in possession of a bank, it can be sold by the bank:

    Central Govt. can make rules for preservation of records / books u/s ______ of B R Act, RBI can make rules u/s ______ of B R Act and banks can return the paid instruments to customers u/s ________ of B R Act.

    A banking company can amalgamate with another banking company of its own, called ______ amalgamation. Central Govt. can also order amalgamation of two banking companies u/s 396 of _______, in consultation with _______.

    Which of the following provisions of SARFAESI Act were amended in the year 2004 after Chemicals vs Union of India and others, judgement of Supreme Court:

    Under provision of SBI Act 1955, SBI is managed by (a) Board consisting of Chairman, Vice Chairman, maximum two Mg. Directors etc (b) Chairman and Mg. Director are appointed for a period not exceeding 5 years (c) Local Boards are set up where the bank has Local HO (d) Local Boards consists are set up where the bank has Local ho (d) Local Boards consists of Chairman and other elected and nominated members:

    A Lok Adalt has jurisdiction:


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