Q. Banks are required to maintain SLR under which act?
✅ Correct Answer: (A)
Section 24 of the Banking Regulation Act
Banking and Finance 3 MCQs and Notes
Q. Which of the following is the clearing agency for Government securities?
✅ Correct Answer: (C)
CCIL
Q. Which of the following Act refers to the acquisition and transfer of the undertakings of certain banking companies?
✅ Correct Answer: (C)
Banking Companies (acquisition and transfer of undertakings), 1970
Q. As per the provisions of which act all financial institutions have to maintain a record for all form of transactions?
✅ Correct Answer: (D)
PMLA Act, 2002
Q. FATCA stands for
✅ Correct Answer: (A)
Foreign Account Tax Compliance Act
Q. According to Sec. ______, a banking company is not permitted to pay directly or indirectly by way of commission, brokerage, discount or remuneration on issues of its shares in excess of 2½% of the paid-up value of such shares.
✅ Correct Answer: (D)
13
Q. In case of an Indian banking company, the sum of its paid-up capital and reserves if it has places of business in more than one State shall not be less than
✅ Correct Answer: (A)
5 Lakhs
Q. In case of banking company incorporated outside India, aggregate value of its paid-up capital and reserve shall not be less than Rs. __________.
✅ Correct Answer: (C)
15 Lakhs
Q. Reserve Bank means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, _________.
✅ Correct Answer: (A)
1934
Q. Regional rural bank means a regional rural bank established under section 3 of the Regional Rural Banks Act, __________.
✅ Correct Answer: (C)
1976