BR Act & RBI Act JAIIB Topic Wise Mock Test / Quiz

Banking Regulation Act, 1949 is an Act of the Parliament of India that regulates banking in India. The Reserve Bank of India (RBI) is India’s central bank, which controls the monetary policy of the Indian rupee. It was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

In this Quiz you can take a quick mock test / quiz on BR Act & RBI Act which is one of the topic of JAIIB.

BR Act & RBI Act JAIIB Topic Wise Mock Test / Quiz

1 / 15

As per sec 17 of BR Act, every banking company incorporated in India is required to transfer to statutory reserve at least ________ .

1) 15% of total profits

2) 25% of total profits

3) 25% of profit before dividend

4) 50% of profit after dividend

2 / 15

Under Section 13 of Banking Regulation Act, 1949 on issue of equity shares the maximum amount payable by a banking company by way of brokerage, commission, discount or remuneration can be ________ .

1) 1% of paid up value of such share

2) 2.5% of paid up value of such share

3) 2.5% of application money

4) None of the above

3 / 15

Under which section of BR Act'1949, every banking company has to submit annual statement of all those accounts which are lying under inoperative category for the last 10 years (called unclaimed deposits) ________ .

1) 17

2) 18

3) 25

4) 26

4 / 15

One rupee notes bear the signatures of ________ .

1) Finance Minister

2) Governor of RBI

3) Deputy Governor of RBI

4) Secretary, Ministry of Finance

5 / 15

A director of a banking company, other than its Chairman or whole time Director, by whatever name called, can't hold office continuously for a period exceeding _________ .

1) 2 Years

2) 3 Years

3) 5 Years

4) 7 Years

6 / 15

The Banks are required to maintain CRR on the NDTL of last Friday of the _________ .

1) preceding fortnight

2) 2nd preceding fortnight

3) 3rd preceding fortnight

4) preceding month

7 / 15

Policy relating to opening / shifting etc. if bank branches is covered under section _____ of the Banking Regulation Act:

1) 21

2) 22

3) 23

4) 24

8 / 15

Mutilated note is one which is _________ .

1) Half note

2) Altered note

3) Mismatched note

4) Whose portion is missing

9 / 15

Banking Regulation ACT'1949 does not apply to __________ .

1) Primary agril credit society

2) Co-operative land development banks

3) State of J & K

4) only 1 & 2

10 / 15

Banks are required to preserve the old records as per rules framed by central govt. as per provisions of the following Act:

1) BR Act

2) RBI Act

3) NI Act

4) Indian Evidence Act

11 / 15

A chit fund company wants to open FDR of Rs. 10 crores for 3 years. what will be the course of action by a branch?

1) Branch will issue FDR

2) Branch will issue FDR after Head Office consent for bulk deposit

3) Bank will not issue as RBI directive do not allow FDR in the name of chit-fund companies

4) Branch may open FDR but for only one year

12 / 15

Requirements related to CRR to be maintained by a banking company are given in ________ .

1) Sec 18 of BR Act for non-scheduled banks

2) Sec 24 of RBI Act for non-scheduled banks

3) Sec 42 of RBI Act for scheduled banks

4) Both 1 & 3

13 / 15

Under section 15 of the Banking Regulation Act, 1949 a banking company can pay dividend on its shares when ________ .

1) All its capitalized expenses have been written off

2) It has adequately provided for bad debts

3) It has as adequately provided for depreciation in value of its investments

4) All of the above

14 / 15

A banking company can't hold any immovable property, howsoever acquired except such as is required for its own use, for a period longer than 7 years as per section _______ Of the B.R.Act 1949.

1) 9

2) 15

3) 17

4) 22

15 / 15

Statutory Return prescribed by RBI for SLR under sec 24 of BR Act is ?

1) Form X

2) Form A return

3) Form VIII return

4) Form SDF return

Your score is

The average score is 19%

BR Act & RBI Act JAIIB Topic Wise Mock Test / Quiz

BR Act & RBI Act JAIIB Topic Wise Mock Test / Quiz

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