This Test is on Banking Law and Practice in India. Questions on various Fundamental Laws �which are of daily relevance are included.
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N RangarajanSenior Manager
of a Public Sector Based Bank @ Trichy
The Capital
The Liabilities
The Responsibilities
The Deed
The Benefits
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True
False
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True
False
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True
False
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Matter now sub judice.We should not pass the cheque.
If we pass the cheque without taking into account the information given by the Public Prosecutor, we may also be accused of complicity and then arrested.
As per NI Act, the arrest of a person will not result in stopping operation in the account.Cheque can be passed.
Refer to Law Officer at Regional Office
Refer to Panel Lawyer.
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Our charge on the assets will become void against the liquidator of the comapny also against the other creditors.
Though the company is bound by the charge, the liquidator is not bound by the same and the Bank will rank as an unsecured creditor alongwith other
Charge can be subsequently registered with payment of penalty
A & B above
None of the above
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Will attested by Notary Public
Will Registered at the Registrar of Assuarances
Will Affirmed by the Testator
Intestate
Authorisation given by the court to give effect to the will.
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Pledge is Bailment of goods in which the actual or constructive possession is with Bank.
Bankers Rights as pledgee is not affected by the claims of other creditors.
As a Matter of convention.
As Bankers normally lend under Hypothecation, Pledge is not registered
A & B above
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3 years from the date of Demand
12 years from the date of Cause of Action
30 Years for Foreclosure
Right of Lien is not barred by Limitation
None of the above
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Any citizen
An existing or prospective customer or consumer of the Bank
An existing customer or consumer of the Bank
Any Aggrieved Person against any organisation
A Registered Attorney of any court in India
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Bank will be an unsecured creditor
Those creditors who have registered their charges will get priority
Only the mortgage is supreme . In such case registration of charge is not required
In case of pledge of goods, registration is not required.
A,B and D Correct
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We will refer to Central Office as there are no guidelines vailable in Banks Book of Instructions.
Right of Set Off cannot be exercised for contingent liability aginst the debt of the firm.
However the deposit is payable only on the date of maturity to meet the garnishee order.
B and C above
We concur the opinion of Branch Manager and advise him to proceed further.
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Cannot be paid as originally date was not filled in
Such instruments are infinitely valid and can be paid
Can be paid with the consent of Drawer
It is an Inchaote instrument . Any Bearer can fill it and the payment can be made and viewed as payment in due course
Refer RO/CO
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Pay the full amount of Deposit to Official receiver, as this is a claim from court of law.
Adjust the the TOD and pay balance amount to depositor, who will will in turn pay the official receiver
Pay the full amount of deposit to the depostor.
Adjust the TOD and Pay balance amount to Official Receiver
All the above may be applied on a case to case basis
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By Supplemental Narration
By Redeposit of Title Deeds
By taking endorsement in the reverse of F 379
By security confirmation letter
By A & B Above
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By granting fresh loan after adjusting the original loan
By taking express promissory note and adequately stamping it
By taking revivival letters for the broken periods
By verifying the reapyment vouchers in the loan and if he has remitted under his isgnature, limitation will run from that date
All the above
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As per RBI Guidelines
To make processing of claims and identification of Nominee, difficult for the Bank
To enable the depostor to maintain secrecy and change the nominee at asubsequent date
The Contract is between the depositor and Bank only and there is no privity of contract between the nominee and Bank.
C & D Above
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Garnishee Order
IT Attachment Order
Revenue Attachement Order
Appointment Order
Gazette Notification
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Mumbai to have better control
Bangalore as the property is situated there
Chennai as the company's registered office is situated there
Hyderabad
Any Notified Centre in India
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If a suit is filed before the document expires, then Both A and B are liable.
If the suit is filed after the expiry of limitation, then A alone is liable and Bank cannot proceed against B
Once RL is not signed by both borrwers, the Bank has no option than to write off.
A & B both correct
None of the above
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Consumer and Banker
Agent and Principal
Principal and Agent
Trustee and Beneficiary
All the above
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SARFAESI Act
It is only Banking Convention.
Sale of Goods Act
Indian Contract Act
Transfer of Property Act
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As the signatory has passed away, there is no mandate for the Bank to pass the cheque.
Can be passed subject to availability of funds inthe account.
We can refer to Law Deaprtment at Regional Office and then decide.
Safely return the cheque with the reason "Signature differs with Specimen provided to Bank"
None of the above
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All Major Male Members.
The daughters of coparceners are also getting coparcenery rights
All female members in the family
Staus quo continues as per old provisions
None of the above
File a police complaint
File a suit in court to enforce collateral security.
Remain helpless
Convert Hypothecation into Pledge and take possession.
Employ Recovery Agents and teach a borrower a strong lesson.
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It is mandatory
To increase the revenue of Govt
To reflect the Bank's name as mortgagee in the Encumberance certificate
To protect the interest of the Bank
A & C above
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If the secuirities are the property of guarantor, it can be parted with.
All securities can be given to the guarantor in the right of subrogation.
The right of substitution permits the same
If the securities are in the name of borrower,we will refer to higher authorities.
Can be released against indemnity.
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No Effect
Cannot be admitted as evidence
It is statutory
It will not confer right
None of the above
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Send Form 8 and Form 13 duly filled in alonwith xerox copies of charge creating documents and the requisite fee to ROC of jurisdiction by registered
At present only E Filing of charges by adding digital signature of the comapny and bank alongwith scanned copies of charge creating documents.
Only through the comapny's auditor who will produce the charge certificate
We can employ consultants for this job for a small fee
We have to visit the ROC in person and do it
All running accounts like TOD,CC,Bills and PC
Non Fund Based Facility
Term Loan
Demand Loan
All the above
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Yes
No
Yes, if adequate drawing power is available
Yes, with borrower’s consent
C & D Above
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Can be acceded.
Will be declined as any one of the original names should be maintained.
Will refer to Regional Office Law Department.
Additon of Name is permitted but deletion is not permitted as per Banking Codes and Standards Board of India guidelines.
All the above
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Regular Debt
Time barred Debt
Revived Debt
Ascertained and quantifiable debt
Contingent Debt
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Management Philosophy propunded by Peter Druckker which says knowledge coupled with motivation will bring better results
It is a theory developed by Stephen R Covey on Team Spirit,Leadership and Time Management
It is the Marketing guru Zig Zaglar's idea of greater targets will bring great efforts
C.K.Prahlad's Corporate Governance Policy wherein Middle Level Shop Floor Engineers are trained in house in the art of Management
This is related to Memorandum and Article of Association of a company
No Lien Letter
Negative Lien
Specific or Particular Lien
Unavailed Bankers Lien
Letter of Estoppel
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The LLP will be a separate legal entity, liable to the full extent of its assets.LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession.
The liability of the partners would be limited to their agreed contribution in the LLP
No partner would be liable on account of the independent or un-authorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner�s wrongful business decisions or misconduct
There is no maximum limit in the number of partners
All the above
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If all terms and conditions are satisfactorily met as specified in the charge documents, it is called as satisfaction of charge.
The satisfactory reply given by the delinquent employee to the charge sheet given to him by the management
After repayment of all loans granted to the limited company we have to remove the charge we have created at the ROC by filing Form 17
Satisfaction of a particular charge like hypothecation or mortgage by the limited company and recording the same thereof at ROC
None of the above
Financial Lease
Rental Lease
Optional Lease
Dry Lease
Usufructuary Lease
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Sec 46 of Banking Regulation Act
Sec 35 of Banking Regulation Act
Sec 31 of RBI Act
Sec 26 of Banking Regulation Act
None of the above
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Bank has insurable interest in the stock as creditor.
This will enable the Bank to make a claim directly to the insurance company in case of loss
Doctrine of "Uberimo Fidaei"
All the above
A & B above
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Term Deposit Receipt
Life Insurance Policy
Book Debt
Overdraft availed at Bank
None of the above
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Erosion of Net Worth
Negative Net Worth
Break Even
Sick Industrial Company under SICA Act 1985
Company to be put under nursing / rehabilitation programme
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F 237
F 237 A
F 301 B
F 16
F 301
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Banking Ombudsman can be approcahed.
The Appellate Authority will entertain and dispose appeals against the decision of the CPIO as required under the Act.A General Manager is designated as Appeallate Authority in our Bank for this purpose.
Customer can file a suit in Court or a Police complaint as the case may be
Consumer redressal Forum can be approcahed under COPRA
All the above depending upon the merits of the case
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0.25% on the value of information to be given in INR Terms
Rs 100 + out of pocket expenses relating to the reply
Rs 10 only
Rupees two for each page (in A-4 or A-3 size paper) created or copied and actual charge or cost price of a copy in larger size paper and actual cost or price for samples or models and and for inspection of records, no fee for the first hours and a fee of rupees five for each subsequent hour or fraction thereof.
C & D above
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The auditor will search for the prior charges in the Registrar of companies and submit a search report to confirm that there are no prior charges.After our lending and creation of charge, we will call for second search report to confirm that we are the sole charge holders.
Certificate of Incorporation
In the Power of Attorney given to the Managing Director
Memorandum of Association
Articles of Association
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None under NI Act.
Under Criminal Law,KYC/AML the introducer can be subjected to investigation.
Introduction is only a formality without any implications.
A & B above
All the above
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A Material Alteration
Not A Material Alteration
A Negotiable Instrument
Not a Negotiable Instrument
All the above
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