1.Legal & Regulatory Aspects of Banking - JAIIB part-9

Welcome to your 1.Legal & Regulatory Aspects of Banking - JAIIB part-9

1.

where the borrower wants to file an appeal against order of DRT (which is not correct):

a. it can do so within 45 days of receipt of order by him

b. it can do so by depositing 75% of amount of order

c. it can do so by filing an appeal with High Court or DRAT

d. it can do so without depositing any amount when permitted by DRAT

2.

. Which among the following is a correct statement:

a. DRT jurisdiction for different banks is with reference to the location of HO of the respective bank

b. Appeal against DRT order can made either to DRAT or to high Court

c. Where a suit has been filed by one bank in DRT, other bank having interest in the case, can join.

d. DRT is not a civil court due to which it cannot pass interim orders like attachment or injunction

3.

Bank B has received a notice from Recovery Officer of DRT attaching the balance lying in current account of XYZ Pvt ltd.

a. The bank will ignore the notice as such authority is not vested with Recovery Officer of DRT

b. The bank will inform the Recovery Officer that his order cannot be complied with as he has no such authority

c. The bank will follow the order as Recovery Officer can issue such order similar to the one given u/s 226 of Income Tax Act.

d. The bank will follow the order, because the recovery of due amount of some other bank is involved.

4.

When a bank is to send a certified copy of bank records to a court, the bank is to give a certificate that should contain (which is not correct):

a. The entry is true copy

b. Entry is contained in bank books

c. Entry was made in ordinary course of business

d. Such record is not in the custody of the bank

5.

The lease for an agricultural and manufacturing purposes is deemed to be a lease from year to year and it can be terminated by giving ______ notice:

a. 2 months

b. 3 months

c. 6 months

d. 12 months

6.

. Which of the functions of public and private key match:

a. Private key verifies the digital signatures and public key creates the digital signature

b. Public key verifies the digital signatures and private key creates the digital signature

c. Private key and public key are used to verify the digital signatures

d. Private key and public key are used to create the digital signatures

7.

Distt. Forus is headed by a person who be or has been qualified to be a _____ Judge. The other ____ members of not less than _____ years.

a. Distt, 3,35 years

b. Distt, 3,27 years

c. Distt, 2,35 years

d. High Court, 3,35 years

8.

An agreement that cannot be enforceable by law is called:

a. Quasi-agreement

b. Void agreement

c. Voidable agreement

d. Immoral agreement

9.

A contract is valid only when there is valid consideration but in case of contract of guarantee, no consideration passes between the bank and the guarantee. The contract is still valid because:

a. Guarantor has signed the contract with his free will

b. Guarantor is a major person and contract with a major person is valid

c. Any thing done for the benefit of the borrower is a sufficient consideration for the guarantor

d. Guarantor’s liability is secondary (as borrower is primarily liable), hence no consideration is required.

10.

Which of the following is true in the following cases:

a. Bailor is the person who receives the goods as a security for the loan

b. When documents are delivered by a customer for safe custody to the bank and bank takes due care but there is loss to documents, bank is liable to the customer

c. If the bailor has knowledge about the defect in the goods due to which bailee suffers loss, the bailor is liable

d. Bailee can use the goods as he likes and is not liable for damages for such use

1.Legal & Regulatory Aspects of Banking – JAIIB part-9

NO COMMENTS

LEAVE A REPLY Cancel reply