Banking Awareness MCQs for Banking exams

1.Acceptance of deposits by non - banking financial companies is regulated by RBI under:

A.Non - banking financial companies acceptance of public deposits (Revenue Bank) directions 1998

B.Non - banking financial companies acceptance of government deposits (Revenue Bank) directions,
1998

C.Non - banking financial companies acceptance of public deposits (Revenue Bank) directions, 1998

D.Non- banking financial companies acceptance of deposits money lenders (Revenue Bank) directions, 1998


2.If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act

A.RBI Act 1934

B.Banking companies Act

C.Companies Act 1956

D.Central Government


3.Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:

A.Public

B.Relatives in the from of loans

C.Friends

D.None of these


4.Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:

A.Section 7 of Banking Regulation Act

B.Section 7 of RBI Act

C.Section 7 of SEBI Act

D.Section 7 of Nationalization Act


5.In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act

A.Section 22 of banking Regulation Act

B.Section 22 of RBI Act

C.Section 22 of NABARD

D.KYC Guidelines by RBI












Solutions

1.A
2.C
3.A
4.A
5.A

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