Banking and Finance 3 MCQs and Notes
Q. Banking company means any company which transacts the business of ________.
✅ Correct Answer: (A)
Banking only
Q. Contigent Liabilities in case of banking Companies are included in_________.
✅ Correct Answer: (D)
Schedule 12
Q. Form of Balance sheet of banking Companies includes Fixed assets in
✅ Correct Answer: (C)
Schedule 10
Q. Form of Balance sheet of banking Companies includes Reserve & Surplus in
✅ Correct Answer: (B)
Schedule 2
Q. Change of name by a banking company only happens with the approval of __________?
✅ Correct Answer: (A)
RBI
Q. Which section of Banking Regulation Act 1949 relates with the Power of Reserve Bank to issue directions in respect of stressed assets?
✅ Correct Answer: (B)
Section 35AB
Q. Who has the power to give directions to other Banking Companies?
✅ Correct Answer: (A)
RBI
Q. Copies of balance-sheets and accounts to be sent to____________.
✅ Correct Answer: (C)
Registrar
Q. In the case of a banking company incorporated outside India balance-sheet and profit and loss account shall be signed by _________ of the company.
✅ Correct Answer: (C)
Manager or agent of the principal office