RAPID
READING EXERCISE – PART:: 05
01.
An NPA has been purchased by
a bank from another bank. What will be the risk weight for the purchasing bank
for this account – 100%
02.
For making reference under
CDR II, consent of banks or financial institutions is required. What is the
rule in this regard ? Consent of 75% of
lenders by value and 60% by number is required
03.
Hypothecation which creates
equitable charge has been defined in – Sarfaesi
Act
04. RTGS takes care of which types of risks: Systemic and settlement risks
05. A bank can sell its NPA account to another bank only after keeping the
same as NPA in the books of the selling bank for atleast 24 months
06.
When only the image of the cheque
is sent to the paying bank while sending the cheque for collection instead of
sending the physical cheque, the process
is called – Cheque truncation
07. What is the maximum amount of loan, other than Housing loan to SC/ST
that can be granted to DRI beneficiary: Rs.
15000.00
08.
A cheque partly written in English and partly in
Regional language is presented for payment. What should the bank do ? If the language is regional language of the
area and if cheque is otherwise in order, it can be paid
09.
Money deposited after
receiving order may be attached in the case of – Attachment order
10.
Original and duplicate draft
presented simultaneously for payment – duplicate
should be paid and original should be returned
11.
Maximum time within which
reply must be given under Right to Information Act: – 30 days
12. A cheque signed by the agent is presented for payment after his death.
.What should the bank do ? – The cheque
will be paid if it is otherwise in order
13. Photographs in accounts are to be taken as per recommendations of which
committee: Ghosh committee
14. What is the target for SC/ST under DRI – 40%
15.
Selling rate of currency is
higher than traveller cheque because – Holding
cost of currency is high
16.
A minor was given a loan. On
attaining majority, he acknowledges having taken loan and promises to pay.
Whether the loan can be recovered? – He
cannot ratify the contract. Hence recovery is not possible.
17.
RBI issues fresh notes in
place of defective notes in bundle and are called as Star Series Notes
18.
Directors powers are
mentioned in – Articles of association
19.
A loan was sanctioned
against a vacant land. Subsequently a house was constructed at the site. What security is available now? – Both
20.
A and B jointly are liable
for debt. When the limitation period is approaching, A acknowledges the debt
while B was away from India. Limitation expires before B comes to India and
after coming, he denies acknowledging the debt. On whom the bank can proceed for recovery of the loan as per limitation
act – Both
21. On repayment of debt of a company, satisfaction of charge should be
filed with Registrar of Companies with in what period – 30 days
22.
A person returned from
foreign trip has to surrender the foreign currency within – 180 days
23.
A loan was given on
hypothecation of stock to Mr X. What has to be done ? – The dues will be adjusted
24.
Club account – Cheque was signed
by the secretary and he died. Whether it is payable ? – it will be paid if it is not dated subsequent to date of death
25. Company is in liquidation. Funds are at the hands of – Liquidator
26.
Sub Prime Crisis means – Problem created by lending to borrowers not
meeting the credit rating criteria
27.
The bill is dated:
15.03.2005 and the date of acceptance is 20.03.2005. The bill was returned
unpaid on 25.03.2005. The limitation
period will be available upto 25.03. 2008
28.
Under hypothecation, the
possession and ownership remains with – both
with the borrower
29.
A lady has taken a demand
loan against FD and comes to the branch and wants to add the name of her minor
son as joint accountholder. What has to be done ? – After closure of loan only we can add the name
30.
Discontinuation of service
area approach is as per recommendations of – Vyas committee
31.
Revival of limitation for
recovery of a time barred loan is possible by – Obtaining fresh promise to pay under provisions of Indian Contract Act
32. Other than a bill of exchange or promissory note, the document coming
from abroad is required to be stamped within – three months
33.
Administrator is appointed
in the case of – where the deceased has
left assets for legal heirs and there is no will
34.
A company has registered
office at Mumbai, loan granted at Bangalore, property situated at Delhi. EMT
can be created at – Mumbai, Bangalore or
Delhi if these are notified centers by respective State Governments
35.
A having savings bank
account with you deposited Rs. 25000.00 A public prosecutor sent notice to the bank
informing that Mr A is involved in forgery and requested not to permit
withdrawal in the account. In between, one cheque for Rs. 20000.00 is presented
for payment. What will you do ? – Pay the cheque as Public Prosecutor is not
authorized to freeze the account
36. There is a savings bank account in the name of A and B. They have given
power of attorney to C for operation in the account. The cheque signed by C is
presented in the bank after the death of B – Cheque will not be paid
37.
An appeal (under Sarfaesi)
against an order of DRT can be preferred by the debtor by depositing – 50% of the amount which can be reduced to
25% by DRAT
38.
Through Reverse Repo – RBI squeezes liquidity in the system by
sale of Government Securities
39. Factoring refers to – Purchase
and management of receivables
40. A facility was granted to B on
guarantee of A. At the time of giving guarantee, account was overdrawn, which
was not known to the guarantor. Later on the account turned out to be bad. Guarantor is liable
41.
Reservation for women under
SGSY – 40%
42.
No writings on currency
notes – directions issued by RBI under
Section 35A of BR act
43. Garnishee order is not applicable on – Unused cash credit or overdraft limit
44. A cheque is written in different hand writings and in different inks. It will be paid
45.
Appeal against the award of
Ombudsman can be made by the bank within – 30
days of receipt of acceptance from the customer
46.
In case of dishonour of a
cheque due to insufficient funds, for enforcing rights under section 138 of the
Negotiable Instruments Act, the holder should send a notice to the drawer
within – 30 days from the date of
receipt of notice regarding dishonour of the instrument
47.
The police seeks information
regarding conduct of an account being maintained in your branch in connection
with some investigation. Can the bank pass on the information ? – Yes. If the information is asked by an
official of the bank in charge of Police
Station or above and in writing
48.
Who can not be a partner in
a partnership firm ? – A Hindu undivided
family
49.
The limitation period will
start from the last date i.e. when the
document was executed by the last partner
50. Who is the appellate authority for making appeal against the decision of
a Banking Ombudsman in India ? – Deputy
Governor, Reserve Bank of India.
51.
A and B have a locker with
the bank which can be operated by either or survivor. A reported loss of key.
Next day B comes to operate the locker. Whether operation will be allowed ? – No
52. What is the status of the nominee ? – Trustee of legal heirs
53. Star series notes relates to – replacement
of defective notes which were wrongly printed
54. If a cheque written in different inks is presented for payment, what
should the bank do ? - The cheque can be
paid if it is otherwise in order
55.
A cheque in which the word –
“Hyderabad” written between two parallel lines is presented for payment in
clearing in Delhi. Can this cheque be paid in Delhi ? Yes. Since this is general crossing and place mentioned in parallel
lines makes no sense
56.
The complainant can make
appeal against the award of Ombudsman within – 30 days of the receipt of the copy of award
57.
A crossed cheque has been
presented by the collecting banker on the counter for cash payment. Whether
cash payment is permitted ? Yes. Bank
can pay the cheque as the requirement is that the crossed cheque should be paid
through a bank
58.
In case of wrongful
dishonour of the cheque, the bank will be liable to – drawer of the cheque
59.
A cheque for Rs. 6000/- was
presented for payment. The balance in the account was Rs. 5000/- in the
account. After enquiry from the counter clerk, the presenter deposited Rs.
1000/- in the account and the cheque was paid. The customer claims the amount
from the bank. What will be the bank’s position ? The bank is liable for disclosing secrecy of a customer’s account
60. RTGS has been started to minimize settlement and systemic risks
61. CRR has been defined in Section
42(1) of the RBI act
62.
In the context of collection
of cheques, conversion means crediting
the amount of the cheque to the account of the person who is not entitled to it
63.
Who can stop payment of the
draft ? – None
64.
Banks can not issue demand
draft payable to bearer, under which act ? – No impact as provisions relating to crossing are not applicable to bill
of exchange
65.
If a borrower is not
satisfied with the reply of the bank to the representation regarding action
taken by the bank under SARFAESI act, he can make a representation to DRT
without depositing any amount. However,
if he wants to appear against the decision of DRT, he is required to deposit
minimum 50%
66. What is the relationship between the banker and judgment debtor against
whose accounts garnishee order is received
?– Debtor-creditor
67. When a LIC policy will acquire surrender value ? – after three years of running
68. When a borrower claims his mortgaged property after repayment of loan,
the right is called – Right of
redemption
69. A wants his account operated by B but only after his death. The account
to be operated in the form of – former
or survivor
70.
What percentage of profit is
transferred to statutory reserves by banks before declaring dividend and bonus-
25%
71.
The period for which notice
is to be issued to the borrower under SARFAESI act – 60 days
72. The effect of increasing CRR by RBI is – controlling liquidity
73. On what rate, the RBI rediscounts the bills discounted by banks ? – Bank Rate
74.
RBI has recently permitted
Door Step Banking Services under which act? – Banking regulation act
75. Islamic banking means – accepting
and lending without interest
76. Forged draft received for payment. Which bank will inform the police ?- Paying
banker
77.
Trustee came to the bank for
loan against fixed deposit to meet the urgent needs of the trust. But the trust
deed is slient about loan against FD. Can we give loan ? – No
78. Frauds of above Rs. 1 crore is to be reported to (where there is no
staff involvement) – CBI – Economic offence wing
79.
Customer is not ready to
sign on the back of the cheque. How to proceed ? – Obtain stamped receipt
80.
Drawer arrested – Public
prosecutor requests for stop payment. Will you oblige. No. We will pay the cheque
81. Revenue stamp on receipt is to be affixed for cash payment. More
than Rs. 5000.00
82. Guarantor pays the dues of the borrower. He is entitled to rights of
creditor. This right is called – Right
of subrogation
83. Under section 138 of Negotiable Instruments Act, what is the maximum
punishment ?. Double the amount of
cheque or imprisonment or two years or both
84. Under Right to Information act,
the information has to be furnished within – 30 days
85. The difference between interest
earned by a bank and interest expense of the bank is called – Net Interest margin
86.
The consequence of Non
registration of partnership is – it
cannot sue others for recovery of its dues
87. An account was opened on 01.12.2007 and cheque book was issued on
10.12.2007. Two cheques dated: 07.12.2007 and 18.11.2007 were presented for
payment on 15.12.2007. What should the bank do ? – Both cheques will be paid if thery are otherwise in order
88.
There is an account in the
name of A. A post dated cheque was paid in clearing by mistake and as a result
another cheque was dishonoured due to insufficient funds. What is the liability
of the bank ?. Bank cannot debit the
post dated cheque before the date of the cheque and would be liable to drawer
and (not payee) for wronglful dishonour of cheque
89.
A executed a power of
attorney in favour of B. The bank has received information about the death of A
– the principal. A cheque signed by Mr. B which is dated prior to the death of
A has been presented for payment. What should the bank do ? The bank will not pay the cheque as the
authority comes to an end with the death of principal
90. In an account a cheque with forged signatures was passed because the
forgery was done in such a way that the same could not detected despite best
efforts. Thereafter, the bank had sent the statement of the account to the
customer who did not object the debit. Later on he contests the debit. Under
the circumstances, what is the liability of the bank ? – The bank shall be liable as a cheque with forged signatures is nullity
in law
91.
What is the responsibility
of legal heirs for the debts ? - They are liable to the extent of assets
inherited by them
92.
If a depositor other than
Senior citizen desires that TDS should not be deducted from interest payable on
term deposit, he will be required to submit a declaration on – Form 15G
93.
A minor can be granted loan
for – necessities of life as per his status
94.
A bill of lading is treated
as stale if it is not presented to the negotiating bank within 21 days from the date of its issue
95. Inspection of banks by RBI is done under Section – 35 of Banking Regulation act 1949
96.
In the call money market,
lending and borrowing is done for – overnight
97.
In which type of accounts
nomination facility is not permitted ? – Safe
custody accounts in the name of more than one person
98.
The limitation for TOD is – three years from the date of loan
99. Hypothecation has been defined in – Section
2 of SARFAESI act 2002
100.As per KYC guidelines of RBI - ration card is not treated as proof of
identify of an accountholder
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