Bank's Promotion Exam - Question Set - RBI BR NI Acts- Part 1

Bank’s Promotion Exam – Question Set – RBI BR NI Acts- Part 1

To Prepare for Bank’s internal Promotion Exam, we are presenting you Part 1 of RBI BR & NI Acts.

Friends, when we study some topic and didn’t revise it, we forget them in a day or two. To memorize the concept, repeated revision of topic is necessary.

This free question paper set has been made keeping in mind to make you remember important points about a topic which can be asked in upcoming promotion exam. I would suggest to utilize this free question paper set in following way.

After studying the topic, go through the questions and attempt it.
If you are not knowing the answer, guess it and right option will be shown instantly with green background.
This way you will know right answer instantly.
Go through whole question bank of almost 50 questions and see your result.
Don’t be de-motivated if score is less for the first time.
Positive thing is that you have covered 50 important points about the topic.
Attempt for the 2^nd time and see the difference.
And in 3^rd attempt, you will be in position to score more than 95% and you will have good grasp of the topic.

Best Wishes…

Results

#1. When was the RBI Act enacted?

1st April 1935

28th November 1934

6th March 1934

1st April 1934

None of the Above

#2. What can be the maximum denomination of notes as per the Section 24 of the RBI Act?

Rs. 5000

Rs. 10000

Rs. 2000

Rs. 25000

Rs. 50000

#3. Which section of the RBI Act allows the RBI to form rules regarding the exchange of damaged and imperfect notes?

Sec-17

Sec-21

Sec-19

Sec-28

Sec-42(1)

#4. Which section of the RBI Act-1934 allows the RBI to provide loans to banks and state financial corporations?

Sec-17

Sec-18

Sec-19

Sec-20

None of the Above

#5. Which section of RBI Act states that the RBI has the exclusive rights to issue currency notes in India?

Sec-21

Sec-20

Sec-22

Sec-19

None of the Above

#6. Which schedule of Reserve Bank of India Act 1934 contains the list of Scheduled Banks in India?

1st Schedule

2nd Schedule

3rd Schedule

4th Schedule

None of the Above

#7. What should be the minimum paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Act 1934?

Rs. 10 Lac

Rs. 100 Lac

Rs. 5 Lac

Rs. 5 Crore

Rs. 1 Crore

#8. As per Sec-4 of RBI Act what should be the capital of the RBI?

Rs. 10 Lac

Rs. 100 Lac

Rs. 5 Lac

Rs. 5 Crore

Rs. 1 Crore

#9. As per Section 31 of the RBI who can issue and accept promissory notes that are payable on demand in India?

Central Government

RBI

Both 1&2

None

#10. What is Section 7 of the RBI Act 1934?

It Allows RBI to Buy & Sell Foreign Curreny

It Empowers the Central Government to Issue directions to the RBI

It allows the RBI to appoint its own staff

It allows the RBI to Invest in Immovable Property

None of the Above

#11. The section 19 of the Reserve Bank of India Act 1934 states that the Reserve Bank of India has been prohibited from?

Make Loans or Advances

Draw or Accept Bills payable otherwise than on demand

Allow Interest on deposit or Current Accounts

All of the above

None of the Above

#12. Drawing accepting making or issuing of any promissory note hundi or bill of exchange expressed to be payable to bearer on demand by a person other than the Reserve Bank of India or the Central Government is prohibited under?

Banking Regulation Act 1949

RBI Act. 1934

NI Act. 1881

Indian Contract Act. 1872

None of the Above

#13. The RBI was established on the recommendation of which committee?

Hilton Young Commission Committee

Osborne Smith Committee

George Yule Committee

Lord Mathew Committee

None of the Above

#14. The Banks are required to maintain CRR on NDTL as per the provision of ____________

Sec-24 of RBI Act 1934

Sec-42 of BR Act 1949

Sec-24 of BR Act 1949

Sec-42(1) of RBI Act 1934

None of the Above

#15. Which Section of RBI Act 1934 prescribes for publication of Bank Rate?

Sec-49

Sec-33

Sec--42

Sec-28

None of the Above

#16. When was the RBI Nationalized?

1948

1949

1947

1950

None of the Above

#17. As per which section of RBI Act 1934 RBI is exempted from paying Income Tax?

Sec-33

Sec-48

Sec-49

Sec-24

None of the Above

#18. The design form and material of Bank note shall be such as may be approved by the Central Government after consideration of the recommendation made by the Central Board is Provided in which Section of RBI Act 1934?

Sec-26

Sec-27

Sec-25

Sec-29

None of the Above

#19. Which Section of RBI Act 1934 states that Bank notes issued by RBI shall be legal tender and shall be guaranteed by Central Government?

Sec-26

Sec-27

Sec-25

Sec-29

None of the Above

#20. Which Section of RBI Act 1934 prescribes regarding constituents of Assets of the issue department?

Sec-23

Sec-33

Sec-22

Sec-26

None of the Above

#21. Which Section of RBI Act 1934 prescribes that bank notes shall be issued by issue Deptt. Against security consisting of gold coin bullion rupee coins foreign securites and other approved securities?

Sec-23

Sec-33

Sec-22

Sec-26

None of the Above

#22. As per Sec-33 of RBI Act 1934 the aggregate value of gold coin gold bullion and foreign securities held as assets shall not at any time be less than ___________.

Rs. 115 Crore

Rs. 500 Crore

Rs. 200 Crore

Rs. 100 Crore

None of the Above

#23. As per Sec-33 of RBI Act 1934 the aggregate value of gold coin gold bullion held as assets shall not at any time be less than ___________.

Rs. 115 Crore

Rs. 500 Crore

Rs. 200 Crore

Rs. 100 Crore

None of the Above

#24. Which Section of RBI Act 1934 states the type of business which the RBI may transact?

Sec-18

Sec-19

Sec-17

Sec-21

None of the Above

#25. Which Section of RBI Act 1934 states the type of business which the RBI may not transact?

Sec-18

Sec-19

Sec-17

Sec-21

None of the Above

#26. Which section of RBI Act 1934 empowers RBI to collect credit information related to borrowers and suit-filed accounts?

Sec-45-A-F

Sec-45-H-T

Sec-49

Sec-48

None of the Above

#27. Who was the first Governor of RBI?

Osborne Smith

C. Rajagoplachari

L.K. Jha

C.D. Deshukh

None of the Above

#28. Who was the first Governor of RBI from Indian origin?

Osborne Smith

C. Rajagoplachari

L.K. Jha

C.D. Deshukh

None of the Above

#29. Which Section of RBI Act 1934 empower RBI to act as Banker to Govt. and transact Govt. business?

Sec-17

Sec-18

Sec-19

Sec-20

None of the Above

#30. Where is the Head Quarter of RBI Situated?

Kolkata

Delhi

Mumbai

Ahmedabad

Chennai

#31. The Financial year of RBI is__________________

April 1- March-31

January 1- December-31

July 1- June-30

August 1 - July-31

#32. As per which section of RBI Act 1934 RBI shal not re-issue bank notes which are torn defaced or excessively spoiled?

Sec-28

Sec-27

Sec-24

Sec-23

None of the Above

#33. Under which section of RBI Act 1934 RBI is exempted from paying stamp duty on Bank notes issued by the RBI?

Sec-29

Sec-27

Sec-28

Sec-23

None of the Above

#34. How many sections are there in the Reserve Bank of India Act 1934?

#35. Which section defines the Constitution of Monetary Policy Committee in Reserve Bank of India Act 1934?

45ZB

45ZA

45ZM

42ZA

42ZB

#36. The Section 45ZM of Reserve Bank of India Act 1934 is about _________

Inflation target

Monetary Policy report

Power and duties of Auditors

Constitution of Monetary Policy Committee

None of the Above

#37. Which section of the RBI Act deals with Issue of demand bills and notes?

Sec-31

Sec-29

Sec-28

Sec-29

Sec-23

#38. As per which section of RBI Act 1934 RBI is exempted from paying income tax?

Sec-42

Sec-47

Sec-48

Sec-43

None of the Above

#39. When did the Banking Regulation Act come into effect?

16th March--1949

10th March--1949

12th March-1950

6th March-1950

None of the Above

#40. Banking has been defined as per which section of Banking Regulation Act 1949?

Sec-5(b)

Sec-6

Sec-8

not defined in any section

None of the Above

#41. Statutory Liquidity Ratio is maintained as per which of the following?

Sec-42 of BR Act 1949

Sec-42 of RBI Act 1934

Sec-24 of BR Act 1949

Sec-24 of RBI Act 1934

None of the Above

#42. As per which section of BR Act 1949 Banks can not grant loans against the security of their own share?

Sec-19

Sec-20

Sec-21

Sec-23

None of the Above

#43. Under which act does RBI issue directives to Banks?

PMLA Act 2002

RBI Act 1934

DICGC Act 1961

Banking Regulation Act 1949

None of the Above

#44. Rates of interest charged by banking companies not to be subject to scrutiny by courts. This has been provided in ___________.

Sec-21A of BR Act 1949

Sec-19 of BR Act 1949

Sec-21A of RBI Act 1934

No such provision is there

None of the Above

#45. As per which section of BR Act 1949 RBI has established Depositor Education and Awareness Fund(DEAF)?

Sec-27

Sec-26A

Sec-28

Sec-25

None of the Above

#46. No Bank shall creat any charge upon any unpaid capital and any such charge if created shall be invalid this has been provided where?

Sec-14 of BR Act 1949

Sec-14 of RBI Act 1934

Sec-13 of BR Act 1949

Sec-13 of RBI Act 1934

None of the Above

#47. As per which section of BR Act 1949 the ratio of Authorised capital subscribed capital and paid up capital should be minimum 4:2:1 for a Bank?

Sec-13

Sec-12

Sec-14

No such provision is there

None of the Above

#48. Which section of BR Act 1949 restrict Bank to pay commission brokerage discount etc. more than 2.5% of the paid up value of one share?

Sec-13

Sec-12

Sec-14

No such provision is there

None of the Above

#49. Which section of BR Act 1949 states that a Banking company carrying on Banking business in India must use the word "Bank" "Banker" "Banking Company" in its name and no other organisation is permitted to use these names?

Sec-9

Sec-10

Sec-7

Sec-12

None of the Above

#50. Which section of BR Act 1949 Describes the forms of business in which a banking company may engage in addition to the banking business?

Sec-7

Sec-6

Sec-8

Sec-9

None of the Above

Finish

Results

#1. When was the RBI Act enacted?

#2. What can be the maximum denomination of notes as per the Section 24 of the RBI Act?

#3. Which section of the RBI Act allows the RBI to form rules regarding the exchange of damaged and imperfect notes?

#4. Which section of the RBI Act-1934 allows the RBI to provide loans to banks and state financial corporations?

#5. Which section of RBI Act states that the RBI has the exclusive rights to issue currency notes in India?

#6. Which schedule of Reserve Bank of India Act 1934 contains the list of Scheduled Banks in India?

#7. What should be the minimum paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Act 1934?

#8. As per Sec-4 of RBI Act what should be the capital of the RBI?

#9. As per Section 31 of the RBI who can issue and accept promissory notes that are payable on demand in India?

#10. What is Section 7 of the RBI Act 1934?

#11. The section 19 of the Reserve Bank of India Act 1934 states that the Reserve Bank of India has been prohibited from?

#12. Drawing accepting making or issuing of any promissory note hundi or bill of exchange expressed to be payable to bearer on demand by a person other than the Reserve Bank of India or the Central Government is prohibited under?

#13. The RBI was established on the recommendation of which committee?

#14. The Banks are required to maintain CRR on NDTL as per the provision of ____________

#15. Which Section of RBI Act 1934 prescribes for publication of Bank Rate?

#16. When was the RBI Nationalized?

#17. As per which section of RBI Act 1934 RBI is exempted from paying Income Tax?

#18. The design form and material of Bank note shall be such as may be approved by the Central Government after consideration of the recommendation made by the Central Board is Provided in which Section of RBI Act 1934?

#19. Which Section of RBI Act 1934 states that Bank notes issued by RBI shall be legal tender and shall be guaranteed by Central Government?

#20. Which Section of RBI Act 1934 prescribes regarding constituents of Assets of the issue department?

#21. Which Section of RBI Act 1934 prescribes that bank notes shall be issued by issue Deptt. Against security consisting of gold coin bullion rupee coins foreign securites and other approved securities?

#22. As per Sec-33 of RBI Act 1934 the aggregate value of gold coin gold bullion and foreign securities held as assets shall not at any time be less than ___________.

#23. As per Sec-33 of RBI Act 1934 the aggregate value of gold coin gold bullion held as assets shall not at any time be less than ___________.

#24. Which Section of RBI Act 1934 states the type of business which the RBI may transact?

#25. Which Section of RBI Act 1934 states the type of business which the RBI may not transact?

#26. Which section of RBI Act 1934 empowers RBI to collect credit information related to borrowers and suit-filed accounts?

#27. Who was the first Governor of RBI?

#28. Who was the first Governor of RBI from Indian origin?

#29. Which Section of RBI Act 1934 empower RBI to act as Banker to Govt. and transact Govt. business?

#30. Where is the Head Quarter of RBI Situated?

#31. The Financial year of RBI is__________________

#32. As per which section of RBI Act 1934 RBI shal not re-issue bank notes which are torn defaced or excessively spoiled?

#33. Under which section of RBI Act 1934 RBI is exempted from paying stamp duty on Bank notes issued by the RBI?

#34. How many sections are there in the Reserve Bank of India Act 1934?

#35. Which section defines the Constitution of Monetary Policy Committee in Reserve Bank of India Act 1934?

#36. The Section 45ZM of Reserve Bank of India Act 1934 is about _________

#37. Which section of the RBI Act deals with Issue of demand bills and notes?

#38. As per which section of RBI Act 1934 RBI is exempted from paying income tax?

#39. When did the Banking Regulation Act come into effect?

#40. Banking has been defined as per which section of Banking Regulation Act 1949?

#41. Statutory Liquidity Ratio is maintained as per which of the following?

#42. As per which section of BR Act 1949 Banks can not grant loans against the security of their own share?

#43. Under which act does RBI issue directives to Banks?

#44. Rates of interest charged by banking companies not to be subject to scrutiny by courts. This has been provided in ___________.

#45. As per which section of BR Act 1949 RBI has established Depositor Education and Awareness Fund(DEAF)?

#46. No Bank shall creat any charge upon any unpaid capital and any such charge if created shall be invalid this has been provided where?

#47. As per which section of BR Act 1949 the ratio of Authorised capital subscribed capital and paid up capital should be minimum 4:2:1 for a Bank?

#48. Which section of BR Act 1949 restrict Bank to pay commission brokerage discount etc. more than 2.5% of the paid up value of one share?

#49. Which section of BR Act 1949 states that a Banking company carrying on Banking business in India must use the word "Bank" "Banker" "Banking Company" in its name and no other organisation is permitted to use these names?

#50. Which section of BR Act 1949 Describes the forms of business in which a banking company may engage in addition to the banking business?

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