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Banking Regulation Act, 1949

Banking Regulation Act, 1949 Quiz

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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is not a function of the Reserve Bank of India (RBI) under the Banking Regulation Act, 1949?

  1. To regulate the banking system in India.
  2. To issue banknotes.
  3. To manage the foreign exchange reserves of India.
  4. To provide loans to the government.
Question 2 Multiple Choice (Single Answer)

What is the minimum paid-up capital required for a bank to be registered under the Banking Regulation Act, 1949?

  1. ₹5 lakh
  2. ₹10 lakh
  3. ₹15 lakh
  4. ₹20 lakh
Question 3 Multiple Choice (Single Answer)

Which of the following is not a type of banking company under the Banking Regulation Act, 1949?

  1. Scheduled bank
  2. Non-scheduled bank
  3. Cooperative bank
  4. Foreign bank
Question 4 Multiple Choice (Single Answer)

What is the maximum tenure of a director of a bank under the Banking Regulation Act, 1949?

  1. 3 years
  2. 5 years
  3. 7 years
  4. 10 years
Question 5 Multiple Choice (Single Answer)

Which of the following is not a power of the RBI under the Banking Regulation Act, 1949?

  1. To issue licenses to banks.
  2. To regulate the interest rates charged by banks.
  3. To inspect the books of accounts of banks.
  4. To impose penalties on banks for violations of the Act.
Question 6 Multiple Choice (Single Answer)

What is the minimum reserve requirement for banks under the Banking Regulation Act, 1949?

  1. 3%
  2. 4%
  3. 5%
  4. 6%
Question 7 Multiple Choice (Single Answer)

Which of the following is not a type of loan that a bank can provide under the Banking Regulation Act, 1949?

  1. Personal loan
  2. Home loan
  3. Car loan
  4. Agricultural loan
Question 8 Multiple Choice (Single Answer)

What is the maximum amount of money that a bank can lend to a single borrower under the Banking Regulation Act, 1949?

  1. 15% of the bank's capital and reserves
  2. 20% of the bank's capital and reserves
  3. 25% of the bank's capital and reserves
  4. 30% of the bank's capital and reserves
Question 9 Multiple Choice (Single Answer)

Which of the following is not a type of deposit that a bank can accept under the Banking Regulation Act, 1949?

  1. Savings deposit
  2. Current deposit
  3. Fixed deposit
  4. Recurring deposit
Question 10 Multiple Choice (Single Answer)

What is the maximum tenure of a fixed deposit under the Banking Regulation Act, 1949?

  1. 1 year
  2. 2 years
  3. 3 years
  4. 5 years
Question 11 Multiple Choice (Single Answer)

Which of the following is not a type of fee that a bank can charge under the Banking Regulation Act, 1949?

  1. Service charge
  2. Processing fee
  3. Prepayment penalty
  4. Late payment fee
Question 12 Multiple Choice (Single Answer)

What is the maximum amount of money that a bank can charge as a late payment fee under the Banking Regulation Act, 1949?

  1. 1% of the outstanding amount
  2. 2% of the outstanding amount
  3. 3% of the outstanding amount
  4. 4% of the outstanding amount
Question 13 Multiple Choice (Single Answer)

Which of the following is not a type of penalty that the RBI can impose on a bank under the Banking Regulation Act, 1949?

  1. Fine
  2. Suspension of license
  3. Cancellation of license
  4. Nationalization
Question 14 Multiple Choice (Single Answer)

What is the maximum amount of money that the RBI can fine a bank under the Banking Regulation Act, 1949?

  1. ₹1 lakh
  2. ₹5 lakh
  3. ₹10 lakh
  4. ₹15 lakh
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