Memory Recalled Questions for LRAB
As per section 26 of the Negotiable Instruments Act, a Minor can draw, endorse, accept a negotiable instrument but he cannot : bind himself.
- A has granted Irrevocable Power of Attorney in favour of B for one year. After 3 months, A revokes the Power of Attorney. A cheque signed by B is presented for payment_ what will you do? The cheque will not be paid because POA can be withdrawn before maturity and once it is revoked, no cheque signed by agent can be debited to account of Principal
- What is the Doctrine of Ultra Vires in the context of a limited company?: Any act by the directors beyond the object of the company is considered ultra vires the company and company is not bound by such act.
- A minor who was admitted to the benefits of partnership has become major. Within how much period, he has to decide to remain partner in the firm or not?: within 6 months of attaining majority or 6 months of knowing that he is the partner in the firm whichever is later.
- If on a cheque words “Account Payee” is written between two parallel lines or with the name of a bank, then: the cheque cannot be endorsed.
- Which type of crossing is required to be done if the drawer wants that in case of endorsement, the title of transferee of the cheque should not be better than the title of the transferor: Not Negotiable Crossing?
- In the case of dishonour of a cheque due to insufficient funds, for enforcing rights under section 138 of the Negotiable Instruments Act 1881, the holder should send a notice to the drawer within: 30 days from the date of receipt of notice regarding dishonour of the instrument.
- The Limitation period for filing case in case of dishonour of cheque due to insufficient funds is: 1 month from the date of cause of action.
- Objectives for which a company has been formed are given in: Memorandum of Association
- Full form of BCBS is Basel Committee on Banking Supervision.
- Direct Impact of increase in CRR is : Controlling Liquidity
- Banks cannot issue Demand Draft payable to Bearer as per provisions of : Section 31 of the RBI Act
- Grace Period is allowed in the case of : Usance Bills and Usance Promissory Notes
- Indian Banks are required to maintain minimum Capital Adequacy Ratio of : 9%
- In the case of individuals and HUF, tax will be deducted at source if the interest on term deposit in a financial year is : more than Rs 10,000
- If Power of Attorney is executed outside India it should be stamped within: 90 days of its first arrival in India
- For its implementation, the complainant should accept the award given by Ombudsman within: 30 days of the receipt of the copy of the award.
- When proceeds of cheque are given before clearance of the cheque the banker will be called: Holder for Value
- In the case of Wrongful dishonour of cheque, to whom the bank is liable?: Drawer
- If date on a cheque is prior to the date of its presentation, it is called: Ante Dated cheque
- What is minor’s liability in HUF Account: Minor is not liable
- When does the right of nominee starts in respect of a deposit account?: After death of all depositors
- For injecting money in the market which type of transaction is undertaken?: (a) Repo (b) Reverse Repo
- RBI controls money supply through: change in CRR
- Loan given to a director can be waived: after permission of RBI.
- Under the Ombudsmen scheme, the Bank has to reply to the objection of the complainant within: one month
- A post-dated cheque is passed in the account of a customer. But another cheque which was in order was dishonoured due to insufficient funds. What is the liability of the Banker?: Bank is liable to the drawer for paying post-dated cheque as bank is not justified in paying post-dated cheque. The bank will be liable to drawer for damages on account of wrongful dishonour of cheque.
- Which type of preferential shares are treated as part of Tier I capital of the Bank?: Perpetual Non-Cumulative Preference Shares.
- As per RBI guidelines, all banks are required classify business in various business segments with effect from 31-03-2008. The segments are: (a) Treasury (b)Corporate /Whole sale Banking, (c)Retail Banking, (d)Other Banking Business. The geographical segments are ‘domestic’ and ‘international’.
- Customer of your bank asks for cash payment of crossed DD. What would you do? Generally payment only through bank account. However, bank can pay after duly satisfying the genuineness of the draft and payee but bank will continue to be liable to true owner if recipient is not true owner.
- A cheque is presented for payment in which the amount in words and figures is different. Bank should pay which amount?: amount written in words will be paid.
- Whether a Private Limited company can be a partner with Public Limited company to forma Partnership?Yes
- In the context of Nomination, which is correct statement?:Signatures of nominee not required on nomination form. Nominee’s name should be mentioned on FDR if agreed by the customer.
- A bearer cheque of Rs.7,000/- was presented. The cashier informed that the cheque cannot be passed as the balance is less by Rs.700/-. The tenderer credited the amount of shortfall and the cheque was paid. Customer disputed the transaction. Whether bank is liable?: Yes. For disclosing balance to third party, bank is liable to account holder.
- When an order passed by Banking Ombudsman is accepted by the complainant, the same should be complied within: 1 month from the date of receipt of acceptance from the complainant.
- Penalty for delay is per day if information is not furnished within prescribed time under Right to Information Act: Rs. 250 per day with maximum being Rs. 25,000/
- A crossed DD was paid by cash. What risk is there for the Bank: Bank will be liable to true owner of the DD if payment made to a person other than true owner (Section 129 of N I Act).
- A cheque is written in English and Regional Language. Whether it can be paid?: Yes. A cheque written in different language can be paid if otherwise in order.
- Who cannot become a partner in a firm as per Supreme court judgment HUF
- Introducers liability / responsibility in case of an account holder defrauding Bank is : To assist the Bank in locating the a/c holder – does not have legal liability
- Nomination -Minor can be a nominee.
- Inoperative accounts: 2 Years & above not operated.
- RTI Act – party seeking information need not disclose the reasons for which the information sought for.
- Counterfeit notes returned after police verification, the same has to be preserved for 3 years subject to half yearly verification.
- Validity period of cheque reduced to 3months from1.4.12 as per : RBI Guidelines under sec 35A of B R Act
- Crossed cheque payment across the counter to the authorized Officer of collecting Bank – can be made and there are no violation as per NI Act. 255.
- The consequence of non registration of Partnership – firm cannot sue others for its dues.
- Banks are required to implement the award of Ombudsman unless a decision is taken to appeal against the same within one month from the date of receipt of acceptance of the award by the complainant.
- Account holder A & B want to substitute their name with the name of their sons C & D in the account. What should the bank do?: Substitution of all names is not allowed. At least one of the original account holder should be retained in the account.
- When only image of cheque is sent to the paying bank while sending cheque for collection instead of sending the physical cheque, the process is called: Cheque Truncation
- A Cheque partly written in English &partly in regional language is presented for-payment What should the bank do?:May be paid, if otherwise in order and the language other than.English is the regional language of the area where the cheque is presented.
- An authority has been granted in an account You have received information about the death of the Principal. Today, you receive a cheque signed by the agent which is dated prior to the death of the Principal. What should the bank do? : Cheque cannot be paid as authority of agent comes to end with the death of the Principal.
- You are maintaining current account in the name of the Trust.You receive notice of death of one of the trustees. After this notice, a cheque signed by the deceased trustee is presented for payment. What should the bank do?: Cheque may be paid, if otherwise in order.
- As per Consumer Protection Act, the period for filing appeal to State Commission against decision of the District Forum is: maximum 30 days
- Who cannot be full-fledged partner: Minor
- Can Karta of HUF appoint Agent or delegate the powers to other co-parcener: Yes, he can do so.
- Money deposited after receiving order may be attached in the case of: attachment order
- Original & duplicate draft presented simultaneously for payment: Duplicate should be paid & original should be returned.
- Company has registered office at Delhi, factory at Kolkata & loan taken at Mumbai. For creating equitable mortgage title deeds can be deposited at: any notified city.
- Reasons for avoiding advance to Un-Registered Partnership Firm: Firm cannot sue against Any one for recovery of its debts but anyone can sue against the firm.
- What is the effect of ‘Not Negotiable Crossing’? Transferee does not get better title than the transferor.
- Payment of cheque can be stopped by: only Drawer of the cheque
- Account payee crossing defined in:-Not defined anywhere
- What is the current rate of interest paid on CRR?:NIL
- How can be the transferability of Bill of exchange can be restricted? Bymaking restrictive endorsement
- If on a Bill-of Exchange, two parallel lines are drawn and not negotiable is written between the lines, what kind of the crossing will be there: Provisions relating to crossing are not applicable to Bill of Exchange.
- Within priority sector,what is the allocation to weaker section?: 25%
- Maximum time with in which reply must be given under Right to information act? 30 days
- What is the status of Nominee? Trustee of Legal heirs
- Safe deposit vault is governed by provisions of: Transfer of Property act
- A cheque signed by agent has been presented after his death for payment. What should the bank do?: The cheque will be paid if otherwise in order.
- Purpose of star series notes: To replace defectively printed notes
- Customer-bank relationship in locker account: Lessee-Lessor
- Uptowhat amount District forumcan be approached under Consumer ProtectionAct?: Rs.20 Lacs
- Appeal against the award of Ombudsman can be made by the bank within: 30 days of receiving the acceptance from the complainant.
- Cheque issued by director of a company and presented after his death will be: Passed if in order
- What would be the action of central bank in recession?: create liquidity by decreasing CRR and lower the repo rate.
- Ante dated cheque like cheque dated 15.12.07 is presented for payment on 1.1.08 whereas_____ the account was opened on 20.12.07 : Cheque should be passed
- If amount in words and figures differ on a cheque and amount written in words is higher than the amount written in figures, then as per sec.18 of NI Act, which amount should be paid?: amount written in words
- Nomination facility is not available in the case of : Trust A/c.
- customer service Committee meeting held on :Monthly basis
- A person wants to open a joint account with his wife in such a way that the account can be operated by him only during his lifetime and she should be able to operate the account only after his death. The account has to be opened with the instructions: ‘Former or survivor
- For wrong ful dishonour of the cheque the bank is liable to: the drawer of the cheque
- Banks print cheque books having similar particulars. The format of cheque is prescribed by which Act : Not defined in any Act. It is as per practice. CTS 2010 advised by RBI
- Which crossing takes away the feature of assumption of defective free title available to the transferee : Not negotiable crossing
- Who is appointed to tackle public complaints against the public authorities : Ombudsman
- The facility of nomination is not available to Trust account because it is account : Non-individual (facility of nomination is available only in the case of individual(s).
- The true owner of a cheque has been deprived of his right by collection of the cheque for a different person. This is called Conversion
- As per recent RBI/Govt. guidelines, pensioners can open account jointly with: spouse, to be operated as either or survivor or former or survivor.
- While paying a bearer cheque, signatures are obtained on the back side of the cheque. Why ? : As evidence of payment
- Whether Minor can nominate ? no. On his behalf nomination will be done by a person legally competent to act on his behalf.
- Cheque is dated before date of its presentation is called: Antedated cheque
- An endorsement inwhich endorser excludes his liability is called : sans recourse
- When a company is financed against the security of hypothecation ormortgage of its movable property, the company is required to file particulars of charge with: Registrar of Companies
- Who is called as Holder as per N I Act?: Who is entitled to possession of the instrument in his own name (actual possession is not necessary).
- If a cheque is dishonoured due to insufficient funds, then as per section 138 of N I Act, court may award imprisonment up to: 2years
- On the face of a cheque, the name of a bank is written without two parallel lines. This will amount to : special crossing
- A/c payee crossing is defined in : it is not defined in any Act. It is as per practice
- Nomination facility for deposit accounts is available under: 45ZA&45 ZB of the BR act
- Maximum amount of deposit which a bank may ask while allowing locker facility to a customer: Advance rent for 3 years and locker breaking charges
- Asolicitor has account in his name and in the name of his client.Garnishee order is received in the name of the solicitor.Whether the samewill be applicable in the name of client also: No because two accounts are not in the same right and same capacity.
- Which of the following is not amaterial alteration? Changing bearer to order
- A bill issued without consideration is called: Accomodation Bill
- There is a joint account in the name ofA&B.Acheque is drawn byAbut the alteration in the amount is authenticated by B.Whether bank can pay the cheque: Yes provided the operation is either or survivor.
- The term used for conversion or transfer of property derived from a criminal offense for the purpose of concealing, or disguising, the illicit origin of the property is called: Money laundering
- In which of the following situations bank will not be a holder in due course?: When bank credits the account of the customer after receipt of funds on account of cheque sent for collection
- The rate at which RBI rediscounts the usance bills of banks is called: Bank Rate
- In the case of IPO, the company is required to allot shares ormake refund within: 30 days of the closure of the issue in case of fixed price public issues; 15 days in case of book built issues and 15 days in case of right issues
- Bank can charge collection charges of not more than for_outstation cheques of Rs.10000 to Rs1 lac in saving bank:Rs.100
- Which of the following cheques cannot be paid by the bank? : A cheque on which signatures of drawer have been forged irrespective of the cleverness in forgery and though these appear to be same as that of the drawer.
- FIU stands for : Financial Intelligence Unit (India)
- Two cheques have been presented to you as paying banker.One is dated prior to opening the account and other is dated prior to issue of cheque book.What will you do as paying banker?: Both chequeswill be paid.
- KYC and FIU in India are associated with: preventing money laundering
- Articles of Association mentions: directors’ powers
- Garnishee order is not applicable on: (a)cash received after two hours of receipt of Garnishee order (b) amount received for safe custody (c) undrawn balances in cash credit accounts
- A person having locker has expired. The nominee comes. A sealed cover is found. What will you do ? : It will be delivered to him as part of locker contents without opening the packet.
- A bill was presented on 10.5.2005 and accepted on 12.5.2005. The bill was due for payment on 29.07.2005 and was returned. The last date for filing suit in this case is : 29.07.2008
- A listed bank has to prepare and publish balance sheet on quarterly basis as per: SEBI guidelines
- There are certain instruments defined as negotiable instruments under lawand certain instruments used as negotiable instruments as per practice.Which of the following is not a negotiable instrument as perNI Act: Dividend warrant
- On repayment of_debt of a company, satisfaction of charge shbuld be filedwith ROCwithin: 30 days
- A Trust Deed is silent about loans by the trust. The trustee approaches for a loan. Under these circumstances what should the bank do?: No loan can be raised
- Which of the following un/under-stamped document cannot be revalidated by paying penalty: None of these as all documents can be revalidated. (However, as per question Demand Promisory note cannot be revalidated).
- A person of 65 years of age cannot nominate which of the following persons: Trust
- The aggregate limit for capital market exposure of a Bank is: 40 0/0 of net worth at the end of previous year
- A minor approaches for a loan. Which type of loan can be given to him: loan cannot be sanctioned other than for necessities.
- Which of the following does not match in banker/customer relation : Locker facility – Bailee/Bailor
- Committee on Procedures and Performance Audit of Public Services (CPPAPS) was headed by: S.S. Tarapore
- Customer service code has been mentioned in : Banking Codes and Standards Board of India.
- Cheque received in clearing signed by whom will not be passed out of the following: signed by a person who has ‘ been declared insolvent.
- Whether a customer can approach Ombudsman without first approaching the Bank : Approaching the bank first is a pre-condition.
- In case a forged note is detected in the cash tendered at bank counter, what should the bank do?: The Note should be impounded and not returned to the tenderer.
- If a guardian is appointed by court, minor will become major at the age of: 21 years
- A Cheque with forged signatures is presented for payment and is paid. Bank will be liable to:Customer (Drawer of the cheque)
- Protection is available to the collecting banker in case of : Crossed cheques
- Which is not a General Crossing: Name of a bank written between two parallel lines
- If time is not mentioned on a Bill of Exchange, it will be payable: on demand
- In an account of Club with you, cheque has been been presented for payment signed by the secretary who has died. What should the bank do?: It will be paid if it not dated subsequent to date of death.
- Garnishee order is applicable for: credit balance in OD and not for cheque sent for collection.
- Bank Guarantees are issued as per provisions of : Indian Contract Act
- cheque truncation means: converting physical cheque to electronic image and stopping physical flow of a paper cheque. 660_ Foreign currency paid to taxi driver, shop keeper, can be accepted by:Authorised persons.
- A bank cannot acquire either as owner or as pledgee shares in a company more than:- As per Section 19 of the Banking Regulation Act 1949, no bank can hold more than 30% of the paid up capital of a company or 30% of its own paid up capital and reserves, whichever is less, whether it is a pledgee, absolute owner or as mortgagee
- For formation of a company, Registrar of Companies will issue : certificate of incorporation
- Co is in liquidation, funds are at the disposal of : Liquidator
- Guardian appointed by will of the father is called: testamentary guardian
- Which of the following documents does not constitute document of title to goods:Airway bill
- DD can be revalidated within: any time (practice may differ In different banks)
- Which crossing is a Special Crossing : Name of Bank is written in the cheque with or without parallel lines
- Supervision of banks is done by RBI under which act: RBI Act / BR Act / Jilani Committee Report / NI Act: Banking RegulationAct
- A minor is aged 15 years, who is illiterate. Which type of self operated a/c can be opened -SB/ RD /FD none
- Which of the following can open SB a/c? State Electricity Board/ Indian Bank Association/Municipal corporation: Indian Bank Association.
- In a Flying club, the Secretary&Treasurer are authorized to sign.ACheque is presented for payment across the counter. In between it has been informed that Secretary has died,what youwill do? :Will be paid, if otherwise inorder
- Revival of limitation for recovery of a time barred loan is possible by: obtaining fresh promise to pay under provisions of Indian Contract Act. As per Supreme court decision, HUF cannot be a partner because:HUF is not a natural or legal person
- As per Prevention of Money laundering Act, preservation of records relating to closed accounts upto: 5 yr from date of closure of account.
- Banks can provide information about the customer to another Bank: General in nature, without any responsibility
- Board of Directors want to borrow money in excess of paid up capital and reserves of the company: can be done through a resolution passed by shareholders in the general meeting
- Other than a Bill of exchange or promissory note, the document which was executed abroad is required to be stamped on its arrival in India within: 3 months of its arrival
- Administrator is appointed in case of: to realize assets and pay off liabilities of a person who has died without writing a will.
- Under Ombudsman scheme, which type of case not entertained?: advocate representing the customer
- Which of the following is not a valid cheque for payment by the bank-l)different ink & handwriting 2) cheque with prior date 3) cheque with impossible date 4) Mutilated cheque:- Mutilated cheque
- The liability of the drawer of bills of exchange is prime till it is not accepted by the drawee after that prime liability becomes of Drawee.
- Whether Pvt Ltd. Co. can be partnerwith Partnership Firm: Yes
- Counterfeit note received at the counterwhat to be done?: Impound the currency note.
- No noting on currency note, directions issued byRBI under section 35Aof BR Act.
- Cross cheque can be paid at counter if presented by other bank.
- Payments of a forged draft.Who will lodge FIR paying or collecting bank: Paying Bank.
- Borrowing powers of board of directors are contained in: Articles of Association
- Locker can be broken open after notice to the hirer if the same is not operated for:more than three years for mediur-n risk category or one year for a higher risk category, and the locker-hirer does not respond nor operates the locker.
- If a complainant is not satisfied with the award or his complaint is rejected by the Banking ombudsmen, he can prefer an appeal to DeputyGovernor, RBIwithin: 30 days of the of the date of receipt of communication regarding award or rejection of the complaint.
- In case ofwrongful dishonour of cheque, bank is liable to: account holder only
- Who can seek information under.Right to InformationAct:Any citizen of India can ask for information
- The Garnishee Order is applicable on the account of a customer when the relationship between banker customer is: Debtor & Creditor.
- A private limited company with Registered office at Bangalore has raised loan from a branch located at Mumbai. For creating equitable mortgage, title deeds can be deposited at: Mumbai, Kolkatta, Chennal or any other notified place.
- A cheque is presented for payment in which amount in figures is mentioned as Rs 10,000 where as the amount inwords is mentioned as Rs Ten lakh only. In terms of section 18 of the NI Act,what should the bank do?: The amount written in words should be paid.
- When a letter is signed by the borrower and based on that letter bank delivers the document of title to goods to the borrower, such letter is called as: Trust Receipt
- How much charges are charged in addition to normal collection charges and out of pocket expenses for providing instant credit facility for outstation cheques:Nil
- A limited company has registered office at Chennai whereas loan has been raised from bank branch at Mumbai. The charge will be registered with the ROC at: Chennai
- A partnership firm conducting business other than the banking business has more than 20 members as partners. Whether this is allowed?: Such association is called illegal association as per Companies Act
- Under Prevention of Money Laundering Act, banks are required to send cash transaction report in respect of cash deposit or withdrawal of more than Rs 10 lakh in a month from one account within: 15 days from the close of the month.
- Who is primarily liable on Bill of exchange which has been accepted?: Acceptor (Drawee) of the Bill.
- A cheque crossed specially to a bank is presented by the same bank to paying bank for cash payment. What should the paying bank do? Bank can make cash payment.
- Who can make nomination in the deposit account of a minor?: Guardian on behalf of the minor.
- Who can be a nominee?: Only an individual
- If a depositor dies, payment to nominee or legal heirs should be made within: 15 days of completion of formalities.
- What is the relationship between bank and customer if he has left certain goods with the bank by mistake: Bank is trustee and Customer is beneficiary
- Appeal against the award of the Banking Ombudsman can be made to Deputy Governor, RBI within days of the receipt of copy of award from the Ombudsman: 30 days
- A cheque was dishonoured despite sufficient balance in the account. The bank will be liable to:Drawer of the cheque and not to the payee.
- Maximum amount of fine under section 138 of N I Act for dishonour of cheque due to insufficient funds is: twice the amount of cheque.
- Bearer uncrossed cheque can be paid to whom: To the bearer
- On, other than a negotiable instrument, what is the time period for payment of stamp duty, if the ocument is executed outside India : 3 months
- May I help you counter is to be provided by bank branches other than : Small branches
- In case of a jointly operated joint account, the nominee can obtain payment, when : none of the account holder is alive
- A bank branch receives a counterfeit note of Rs.500, which customer wants back. What the bank should do : Impound the currency note, but No credit of full amount to customer.(No credit to customer’s account is to be given for counterfeit notes) Master Circular DCM(FNVD)G – 4/16.01.05/2017-18 dated July 20, 2017
- When rate of interest is expressed by adjusting the impact of inflation, this is called : Real rate of Interest
- Banks can ask for deposit of advance rent on hiring a locker for a period up to : 3 years
- The crossing on a cheque is required to be cancelled. Who can do so: Drawer
Maximum questions were from Module B and C, D
Law of limitations – 2 2 marks questions
Indemnity – 2 questions
Consumer protection – 2 questions
Simple mortgage – 1 questions
Pledge – 3 questions
SARFAESI – 5 questions
Mortgage – 5 questions
DRT – 3 questions
Letter of credit – 3 questions
Bank guarantee – 4 questions
Partnership – 4 questions
Audit reports – 3 questions
Banking ombudsman – 2 questions
Appointment of Director/additional director – 2 questions
Lok Adalat – 2-3 questions
Presiding officer – 2 questions
Definition of IT Act
DRT / ombudsman/ consumer appointment
Case laws relating to collection of paying and collecting bank
Minimum qualifications to be a presiding officer of DRT
Question on Forged Cheque
NI ACT 131
Minimum and maximum number of directors in a Public Ltd Company
Which LCs are Anticipatory LC
Bill of Exchange – 2 questions
One question related endorsement
Penalty under fema act. Fine arrest or both
Min and max fine for delay in providing information
Max duration to provide information
Conditions for being a DRAT chairman
Registration Authority and few more questions on Reconstruction Company
Primary liability to pay in LC
One resolution for how many directors
Banking use excess from reseres and surplus needs permission within??
Balance sheet should be signed by??
Fraud cash withdrawal -ombd can deal or not?
Mortgage is defined in?
Charge on insurance is defined in?
Anyone require 15000 dollar for education purpose this is capital trans , cur trans?? acrd to fema
Relation in deposit of articles
Liability of gaurantor?
Rights of seller
Right of indemnity holder when sued
Chairman of NAT
Min amount to apply in DRT
Min qualification to be presiding officer
Question related stale cheque. Can be paid on request of payee or not
Alteration authenticated by ac holders wife. can be paid or not
Income tax notice to assessee under which sec of it act
Which income not defined under income in it act. Pension, salary, capital gain, income from house rent
Who is chairman of national consumer commission
DRT applicable to-bank comp SBI rrb or all
- Limitations period of foreclosure – 30 Years
- Section 35 of RBI act – Initial assets and liabilities
- Section 35 of Banking Regulation Act, 1949 – Inspection
- Minor Partner liability in firm – cannot be held personally liable
- Payee bank protection in case of forged Instrument – Sections 10, 85 and 128 of NI Act
- Elder Male member called as in HUF – Karta
- Non negotiation crossing Obligation to payee bank
- Limitation period in case of Default of loan in EM
- Bank Negotiation stamp of cheque, presented to other bank
- 5-6 questions frm DRT/DRAT
- Bank Guarantee
- Questions from NI Act
- Limitation Act
- Charges, Mortgage
- Partnership Act
- Consumer Protection Act
- Banking Ombudsman
- Majority of the paper from Chapter A
- Questions on minor admitted benefits
- LC types i.e red clause and green clause
- Public Ltd and Pvt company differs
- No of members in pvt ltd
- Case studies on Bank Guarantee
- LC case study
- Winding up decisions
- Loan documents signed by in case of loan to HUF
- Aggrieved by DRT decision, complaint to?
- Aggrieved by Lok Adalath decision, complaint to?
- Aggrieved by Banking ombudsman, complain to deputy governor within how many days
- Exact meaning/difference between pledge and bailment
- Memorandum of association and articles
- Voting rights of shareholders max limit
- Max directors in public, private companies
- Difference b/w indemnity, guarantee
- Clerical error in DRT, resolved by?
- Equitable mortgage place of registration of charge
- In continuity guarantee, if guarantor dies?
- When agreement to sell becomes sale?
- Section 131 of NI act
- Register of members of a company should be kept with?
- Interest rate on excess of CRR?
- Central, state, district councils
- Statutory rights on company member ship 2marks +1mark
- Upcountry cheque 2marks
- Consumer protection act pecuniary jurisdiction levels
- Consumer protection act calim limit
- Bill of exchange limitation period
- Claytons rule example cash credit or demand loan or bill of exchange
- Financial gaurante definition
- Pledge and gaurante differences
- Equitable mortgage 2 marks question
- Mortgage by conditional sale
- DRT Borrower may apply 45days
- DRT Borrower has to deposit 50% and tribunal has power to reduce 25%
- Agreement to sell risk
- Consideration 1qurstion
- Official gazette published in electronic for called
- Money laundering act 1 question
- Right to information act 1question
- Actionable claims
- FEMA curewntaccount transaction 1mark
- FEMA another 2 question
- Memorandum of association object clause are classified in to sub clauses 1mark question
- MOA clauses
- Min and Max numbers in private public company
- Partnership disslove on partner retire
- Legal position of minor attains majority
- Limited liability partnership 1question
- Unpaid seller 1queation
- Sale vs aggrement to sell 1queation
- Consideration one question
- Bailment and pledge question
- Contract 1question
- Place of source example question in tax
- Organization of Lok adalats
- If any clerical or arithmetical errors in recovery certificate who will change
- Mardia case half mark
- DRT 3 questions
- DRAT 1queation
- CRR on RBI int will provide or not
- NI act collection banker case study
- NI act paying bank case study
- HUF half mark question
- Bill finance question – Holder
- Hypothecation 1 queation
- General lien question
- Charges 2 marks questions came like Gold coins is better than gold jewellery
Different types of mortgages
Paying banker protection
collecting bankers duties
Absolute Possession in which mortgage
Not a consequence if charge not created
Notice by AO under which section
Section for Registration of Charge
Conversion on Cheque.. Who is defaulted in such case.
Paying n Collecting Bank Ques
The Consumer Protection Act,1986 applies to …… All goods and services/ Goods for resale/ Goods for commercial purposes
Bank credited 50000 in account of B wrongly after some time bank realise the mistake and approach B , B paid 50000 to bank and rest to be paid in mean time. After many days B does not pay money then bank files suit against B then bank will get interest on amount 4.5 from the B
- RTI applies in
Tenure of a director in bank
qualification to be presiding officer
in banking ombudsman settlement means
in drt who can modify or review the decision
while executing serfaesi bank come to know that there are 12.30 lakh short then in that case what a bank can do
in serfaesi DM permission is requires or not tobe select correct one
penalty for money laundring
Authorised person in Foriegn exchange
penalty for foriegn exchange
in following in what case arbitrator comes
relation in hiring of locker in bank and customer
which among the following is not included in MOA
a changes to be made in AOA they have to made with …… and have to be ……….with national company law ( general/special, registration required/not)
who organise lok adalat
a customer approches bank to close the joint account in case of death of a partner nomination is not made and legal heirs of the deceased partner are minor then in thay case what bank do
sale notice should be given before … days after possession
in serfaesi review objection by borrower have to replied with in … days
what cannot be considered in consumer service in respect of bank
A gives chq to B and B endorse it to C then it is presented in clearing then in mean time you come to know about death of A then what to do
A deposited a chq with his bank ie ABC , bank affix crossing stamp on the face of chq in mean time A comes and demanded his chq return and bank gives to A then A deposited with the other bank other bank also neglize the stamp and affix thier stmp also ont he chq then the chq is
In case a chq is presented in clearing with forged signature of A and also a other chq with forged sign of endorser then in what case protection to bank is available
3-4 question on mortagage
The bailment of goods as security for payment of a debt or performance of a promise is called “pledge”. The bailor is in this case called the “pawnor”. The bailee is called the “pawnee”.
Min deposit to appeal to DRAT – 50000
Min and max directors in public limited co –
Complaints can lodge to banking ombudsman through – Authorised Representative
Safe custody of articles.. Bailment
Clubs n societies r registered under – either under the Companies Act, 1956 or under the Societies Registration Act or the Co-operative Societies Act
Sale notice period ie. 30 days
Authorized officer of public sector bank min designation.. Chief manager
Jurisdiction of filing suit – at place of mortgaged property situated
Permission from RBI for securitization companies
It is a company registered under the Companies Act, 1956 for the purpose of securitisation. The securitisation company also needs a registration from the RBI as per the SARFAESI Act. The securitisation company can set up separate trusts scheme wise and act as trustee for such schemes, as provided in the Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003. The investors in the securitisation company are the beneficiaries of such trusts.
what is floating charge? – a liability to a creditor which relates to the company’s assets as a whole and may become fixed in particular circumstances (such as liquidation). A floating charge is a security (i.e. mortgage, lien, etc.) that has an underlying asset or group of assets which is subject to change in quantity and value. Corporations can use floating charges and it does not affect their ability to use the underlying asset as normal. Only if the company fails to repay the loan and/or goes into liquidation, does the floating charge become “crystallized” or frozen into a fixed charge. At that point the lender becomes the first-in-line creditor to be able to draw against the underlying asset and/or its value to recoup its loss on the loan.
Consumer protection act, 1986
To protect the interests of the consumers, ‘The Consumer Protection Act was enacted.’
The Act extends to the whole of India except the State of Jammu & Kashmir.
The Act applies to all goods and services, excluding goods for resale or for commercial purpose and services rendered free of charge and under a contract for personal service.
Hypothecation pledge –
Pledge – It is used when the bank (or, lender, known as pledgee) takes actual possession of the securities, such as goods, certificates, golds, etc, (you provide it to bank to avail loan) which are generally movable in nature. Bank keeps the securities with itself, and provide loan to you.
Bank will return the securities (possession of goods) to you (borrower, known as pledgor), after you repay all the debts (i.e., loan) to the bank. In case you are unable to pay back, then the bank has the right to sell the assets, and recover the loan amount (with interest).
Example – Gold loans, Jewellry loans, advances against NSC (National Saving Certificates), or loans against any other assets.
Hypothecation – It is used when you (borrower) have the actual possession of the asset, for which you have taken the loan. Generally, this is charged against loans for movable assets, like car, bus, etc. (i.e., vehicle loans). Here, the assets (bus, car, etc.) remain with you, and you are hypothecated to the bank for the loan granted.
In case you are unable to repay the loan amount, then the bank has the right to sell the asset (bus, car, etc.), (which is possessed by you) and recover the total amount (with interest).
Example – Car loans, Bus loans, etc.
Mortgage types – 1. Simple Mortgage, 2. Mortgage by Conditional Sale, 3. Usufructuary Mortgage, 4. English Mortgage, 5. Mortgage by deposit of title of deeds, 6. Anomalous mortgage
In this type of mortgage, the procession of the borrower’s property is not transferred to the lender. Though it is not transferred the lender has the right to sell the property if there is no timely return of the loaned money.
Mortgage by conditional sale
On certain conditions like failure to repay the borrowed or mortgage money before the stipulated date will make the sale absolute. If the money is returned on time, then the sale may be considered invalid and such repayments will entitle to transfer of property.
The usufructuary mortgage allows transfer of the property, possession to the lender. The monthly repayments are paid to the mortgagee while the title deeds remain with the owner.
A date is fixed by the borrower for the repayment of the debt and transfers the property entirely to the mortgagee or the lender. But on conditions that ensure the lender transfers it back on the borrower’s name at the time of repayment.
Mortgage by deposit of title deeds
Mortgage by deposit of title deeds, delivers the title document of the property in question to the lender to create security as well as surety. Most commonly followed in places like Kolkata, Mumbai and other towns where the state government has notified by publication in the official gazette.
The last one being the Anomalous mortgage is a combination of the different types of mortgages available in the market.
Shantigram Township in Ahmedabad is a good outlet for property investment in Gujarat. Adani real estate, play a major role in the residential property development of the city is here with their upcoming projects. Villas, bungalows, flats or apartments, every housing need will be adhered to with us.
Minors admitted to partnership
- (1) A person who is a minor according to the law to which he is subject may not be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of partnership.
(2) Such minor has a right to such share of the property and of the profits of the firm as may be agreed upon, and he may have access to and inspect and copy any of the accounts of the firm.
(3) Such minor’s share is liable for the acts of the firm, but the minor is not personally liable for any such act.
(4) Such minor may not sue the partners for an account or payment of his share of the property or profits of the firm, save when severing his connection with the firm, and in such case the amount of his share shall be determined by a valuation made as far as possible in accordance with the rules contained in section 48:
Provided that all the partners acting together or any partners entitled to dissolve the firm upon notice to other partners may elect in such suit to dissolve the firm, and thereupon the Court shall proceed with the suit as one for dissolution and for settling accounts between the partners, and the amount of the share of the minor shall be determined along with the shares of the partners.
(5) At any time within six months of his attaining majority, or of his obtaining knowledge that he had been admitted to the benefits of partnership, whichever date is later, such person may give public notice that he has elected to become or that he has elected not to become a partner in the firm, and such notice shall determine his position as regards the firm:
Provided that, if he fails to give such notice, he shall become a partner in the firm on the expiry of the said six months.
(6) Where any person has been admitted as a minor to the benefits of partnership in a firm, the burden of proving the fact that such person had no knowledge of such admission until a particular date after the expiry of six months of his attaining majority shall lie on the persons asserting that fact.
(7) Where such person becomes a partner,-
(a) his rights and liabilities as a minor continue up to the date on which he becomes a partner, but he also becomes personally liable to third parties for all acts of the firm done since he was admitted to the benefits of partnership, and
(b) his share in the property and profits of the firm shall be the share to which he was entitled as a minor.
(8) Where such person elects not to become a partner,-
(a) his rights and liabilities shall continue to be those of a minor under this section up to the date on which he gives public notice,
(b) his share shall not be liable for any acts of the firm done after the date of the notice, and
(c) he shall be entitled to sue the partners for his share of the property and profits in accordance with sub-section (4).
(9) Nothing in sub-sections (7) and (8) shall affect the provisions of section 28.
Fund Based Credit Facilities: Fund based credit facilities involve the outflow of funds meaning thereby, the money of the banker is lent to the customer. They can be generally of following types:
(a) Cash credits/overdrafts (b) Term loans/Demand loans (c) Bill finance
Non-Fund Based Credit Facilities: In this type of credit facility the bank’s funds are not directly lent to the customer and they include:
(a) Bank guarantee (b) Letter of credit facility (c) Acceptance facility
Dissolution of partnership firm
DISSOLUTION BY AGREEMENT
A firm can be dissolved with the consent of all the partners or in accordance with a contract between the partners.
A firm is dissolved:
(a) if all the partners (except one) are adjudicated insolvent; or
(b) by the happening of any event which makes it unlawful for the business itself to be carried on or the event makes the business unlawful if it carried on in partnership.
However, if the partnership firm is carrying on more than one separate businesses, the illegality of one or more does not cause the dissolution of the firm. The firm can continue to carry on its lawful adventures and undertakings.
DISSOLUTION ON THE HAPPENING OF CERTAIN CONTINGENCIES
A firm is dissolved in the following circumstances. To avoid dissolution in these cases, the partners should expressly agree that the firm shall not be dissolved in these circumstances:
(a) if the partnership is constituted for a fixed term, then by the expiry of that term;
(b) if the partnership is constituted to carry out one or more adventures or undertaking, then by the completion thereof;
(c) by the death of a partner; and
(d) by the adjudication of a partner as an insolvent.
DISSOLUTION BY THE COURT
At the suit of a partner the court may dissolve a firm on any of the following grounds:
(a) that a partner has become of unsound mind;
(b) that a partner (other than the partner suing for dissolution) has become permanently incapable of performing his duties as partner;
(c) that a partner (other than the partner suing) is guilty of conduct which is likely to affect prejudicially the carrying on of the business;
(d) that a partner (other than the partner suing) wilfully or persistently commits breach of agreements in relation to the management of the affairs of the firm or the conduct of its business or it is not reasonably practicable for the other partners to carry on the business in partnership with him because of his conduct with respect to the business;
(e) that a partner (other than the partner suing) has transferred the whole of his interest in the firm to a third party;
(f) that the business of the firm cannot be carried on except at a loss; or
(g) on any other ground which renders it just and equitable that the firm should be dissolved.
Letter of Credit
Applicant-Buyer-Importer-Opener : He is the person who applies to bank for Letter of Credit
Issuing Bank : The bank which opens the Letter Of Credit on the request of applicant/Buyer.
Beneficiary-Exporter-Seller : The person who is entitled to receive the benefit under Letter of Credit.
Advising Bank / Notifying Bank : The bank in the Beneficiary/Exporters Country through which the letter of credit is advised to the beneficiary.
Negotiating Bank : The bank in the Beneficiary/Exporters Country which negotiate the bills (i.e. make payments on the bills drawn by the seller and accepts the documents.) If the LC specifies a bank then that bank is the Negotiating Bank and is also called the Nominated Bank / Paying Bank. If the LC however does not specify the bank, than any bank can be negotiating bank.
Confirming Bank : The advising bank is only required to advise the credit to the beneficiary. If however in addition to advising the credit the advising bank were to confirm it, then the advising bank will also become confirming Bank.
Reimbursing Bank : It is the bank which is appointed by the Issuing Bank to make reimbursement to the Negotiating, Paying or confirming Bank.
E filing system in charge registration
Contract two to three questions
SARFAESI act applicability
According to tax lawas income definition
Major powers of RBI
Law of limited for foreclosure of mortgage
What is called judgment of Banking ombdsuman is.Award
security or protection against a loss or other financial burden.
security against or exemption from legal responsibility for one’s actions.
Deferred payment guarantees
The bank at request of customer issues such Bank Guarantee when he purchases goods or machinaries from a creditor on the terms of payment after a specified time in lump sum or in instalments. The creditor requires such deferred payment terms to be guaranteed by the bankers of the principal debtor. Such a Bank Guarantee contain an undertaking by the banker that that deferred payment shall be made by the principal debtor, failing which the banker shall pay the amount to the creditor. These types of guarantees normally arise in the case of purchases of machinery or such capital equipment by industries or other party/ies. The manufacturer or its agent applies the machinery against cash payment say 10% to 15% & obtains accepted bills for the balance amount by purchaser’s banker for deferred period say 3 to 5 years
Bill of exchange
This is a financial document. Payment is made on this document. This for brevity sake is called ‘bill’ and is sometimes referred to as ‘draft’ (to be distinguished from a ‘demand draft’). In a letter of credit transaction the right to draw a bill is conferred only on the beneficiary. The bill amount should be within the limit fixed in the letter of credit. The tenor, endorsement and the drawee should be the same as given in the letter of credit. This document should be distinguished from ‘bills of lading’, which is a transport document and is discussed later on in this chapter. Bills or drafts can be payable on presentation (sight bills) or on a certain date (usance bill).
Company limited by guarantee
Where the liability of the members of the company is limited by the memorandum of association to such an amount as the members undertake to contribute to the assets of the company in the event of the liquidation of the company, the company is known as a company limited by guarantee. In other words, in such a company each member promises to pay a fixed sum of money in case of its winding up. The amount is called the guarantee. A guarantee company may or may not have a share capital. A guarantee company must have articles of association. If such a company has a share capital then each member is required to pay the amount of the fixed share capital as in the case of a company limited by shares in addition to the guarantee. Thus the liability is restricted to the amount of the share capital plus the amount of guarantee. Such a company may also be a private company or a public company.
Under which section of income tax donations come? – 80G of the Income Tax Act
Min and max no of member in private companies – 2 & 200
No. of members in public limited co (Min & Max) – 7 & unlimited
Banking ombudsman applicable – in whole india
Indemnity which type of liability? – Contingent.
Who can rectify the clerical or arithmetical errors in order passed by DRT? – Presiding officer
Which income doesn’t come under service tax? – Interest income
Within how many days can a consumer file complaint if he is not satisfied with the service? – 30 Days
Which is the negotiating bank in case of LC? – Exportrs country bank
Relationship between bank n customer in case of pledge – pawnor-pawnee’
Debt recovery tribunal established by – Government of India under an Act of Parliament (Act 51 of 1993)
How many types of LC ? – 8
Jurisdiction of appellate tribunal – The Central Government is also empowered to decide and specify the areas within which the tribunal may exercise jurisdiction for entertaining and deciding the applications filed before it.
DRT applicable – Above 10 Lakhs
DRT is controlled by – Recovery of Debts Due to Banks and Financial Institutions Act (RDDBFI Act), 1993
RTI is not applicable to – J&K
UCPDC 600 is in respect of – Letters of credit
Pay as you earn is a…… tax – is a withholding tax on income payments to employees
20% profits should maintain with rbi – NBFC
NI act application – Whole India
Cersai time limit – within 30 days of creation of mortgage
Bills payable on demand are – paid when the payee asks for it.
Term of every member in national commission – 5 years or up to the age of seventy years, which ever is earlier
A securitization company carries out the function of – Acquisition of financial asset from the originator
Limitation period of for takng immovable property under sarfaesi? – 12 Years
Amount of TDS should be submitted before how many days? – 7th of the next month
Number of directors of private company? – 2 to 15 (Min & Max)
Casual vacancies of directors can be filled by? – the Board of Directors at a meeting of the Board
Collecting bank will get safety under NI act for what – Forged sign of endroser
Which is not consider as NI – Share
Tax dedcuted from salary has to be payed as on – Monthly basis
Limitation perod for foreclosure is – 30 Years
Llimitation perod for possession of immovable property is – 12 years
Banking regulation act 1949 – Regulates banking
2.minimum and maximum members in private company..
5.demand biill also called as sight bill.
6.presiding officer tunere…
7.relationship in safe locker ..bank customer.
8.relatioanaship in loan on FD..
12.3days for book evidence..
Under how many phases is cases of sarfaesi settled under civil courts?
EM is required to be done in specified town of property
Payment to minor
Right of member in a company
Fund based non fund based
Endorsement in cheque
Advantages of corporate form of enterprises
To whom the assignment notice send in case of loan taking against insurance policy
Lok adalat max compensation?
Title deed not required to be deposited in whch type of mortgage?
Mortgage-transfer of property act
Sale of goods act
Safe deposit locker
3 – 4 case studies on protection to collecting banker and paying banker
Appointment of banking ombudsman , regulation of tenure of banking ombudsman
Minimum and maximum number of members in private company
2-3 questions from MoA and AoA
Object is described in MOA /AOA
Difference between partnership and company..
If a director in company wants get member of another company what needs to effect in both companies article of Asso.
For how many years a banking company use non banking assets- 10, 11,12 or 15 years
Mutual fund transaction which kind of account in dealing foreign transaction.
RTI act not applicable which of the following
Renounce sport board
If a customer deposit an order cheque to A bank and A bank put a collection stamp on it but customer take the cheque and deposit to B bank but B bank return the cheque.What The B bank site the return reason
National commission tenure
What is the conversion?
HUF created by
Who pays money to beneficiary in LC
Appeal days in DRT
No of parties involved in LC – 7 (Applicant-Buyer-Importer-Opener, Issuing Bank, Beneficiary-Exporter-Seller, Advising Bank, Negotiating Bank, Confirming Bank, Reimbursing Bank)
Green clause – This permits pre shipment advance and also permits advances to the exporter to cover storage at the port of shipment.
Forged instrument – Checks, drafts, bills of exchange, notes, bonds, stock certificates, and paper money with false signatures or false denominations; false instruments with genuine signatures; or COUNTERFEITS.
Differed payment guarantee – Deferred Payment Guarantee is issued by the bank at request of customer when he purchases goods or machinaries from a creditor on the terms of payment after a specified time in lump sum or in instalments.
Equitable mortgage – A mortgage in which the lender is secured by taking possession of all the original title documents of the property that serves as security for the mortgage. It gives the mortgagee the right to foreclose on the property, sell it, or appoint a receiver in case of nonpayment.
Gratitious bailment – is a type of bailment in which the bailee receives no compensation. For example, borrowing a friend’s car. A gratuitous bailee is liable for loss of the property only if the loss is caused by the bailee’s gross negligence.
Usuance bill – is a bill of exchange which allows the drawee to have period of credit or term. The usance can begin from the date of the bill of lading or from the date of acceptance by the drawee and is stated in days or months.
Bill of exchange – an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.
What is the eligibility of becoming presiding officer in DRT?
- A person is qualified for appointment as presiding officer of a tribunal if he is, or has been, or is qualified to be appointed as a District Judge.
- The presiding officer of a tribunal holds office for a term of five years from the date on which he enters upon his office or until he attains the age of sixty-two years, whichever is earlier.
Who can remove the presiding officer of DRT?
They cannot be removed, unless by an order of the Central Government on ground of proved misbehaviour or incapacity after inquiry. Presiding officer or chairperson can by a three months written notices, resign his office.
DOCTRINE OF CONSTRUCTIVE NOTICE
The memorandum of association and articles of association of a company are registered with the registrar of companies at the time of incorporation. As the office of the registrar of companies is a public office, the memorandum of association and articles of association become public documents. Hence, the act expressly guarantees the right of inspection of these documents to all. It is therefore the duty of every person who deals with a company to inspect its public documents, i.e. its memorandum of association and articles of association and make sure that his contract is in accordance with their provisions.
However, whether a person has actually read them or not he shall be in the same position as if he had read them. In other words, he will be presumed to have knowledge of the contents of these documents and to have understood them according to their proper meaning. This kind of presumed notice is known as constructive notice. This is known as the doctrine of constructive notice.
The following are the practical effects of the doctrine of constructive notice:
(a) He who deals with the company is deemed to have notice of the public documents whether he has actually seen them or not.
(b) Another effect is that a person dealing with the company is not only deemed to have notice but is also presumed to have read those documents and to have understood not only the company’s powers but also of its officers.
(c) The doctrine of constructive notice is of a negative nature in the sense that it stops a person from contending (arguing) that he had no notice of the contents of the documents.
- Members of public and private company – Public – Min-7, Max-No Restriction. Private – Min-2, Max-200
- Of directors in public and private company – Public – 3 to 15, Private – 2 to 15
- Interest payable by RBI on CRR – 0 %
- Pledge hypothetican
- What is equitabe mortgage
- NI Act
- Questions based on limitation period
- Diff b/w partenership and company
- Questions on mortgage and cheque
- Heads of object of memorandum of association
- Related equitable mortgage
- BR act
- Partnership accounts
- Person appeal to drt after receiving reply from sc with in period of
- payment and settlement system regulated by
- About mortgage types 4 questions
- FEMA deals with transactions of
- Bailment & pleadge
- Equitable morgatge
- Deferred payment guarantee
- In how many days TDS file to gov
- For cancel of lease or rent how many month notice?
- Clatons rule
- Minimum directors-3&2
3 Around 8 qtns from mortgage. like english, equitable, act for mortgage etc.
- 4 qtns from MOA & AOA of company
- Doctine of constructive
- partnership and company
- Indemnity-loss of fdr
- pledge and lien
- Consumer complaint act-complainant
- Credit card award-1 lakh
- Common seal
- Green letter of credit
- Negotiating bank
- Surity is -secondary
- Deffered guaranty
- DRAT head post
- Chq alteration not visible to naked eyes bank not liable
- SARFAESI Act apeal to drt in how many days 45
- LC credit related question credit allow something like that ans green lc
- BO related complain how many days to dispose by BO.
- RTI how many days to required by the PIO to settle the information.
- Not registerd partnership firm related question can sue or not.
- Min No of director in public and private
- Section 131
- Actionable claim
- Which one is NI
- Equitable mortgage
- Mortgage deed is necessary foe which mortgage
- Which LC is called anticipatory credit
- Members and directors of pvt and public company (2questions)
- Which is not a company classified under liability category
- With what memo a cheque should be returned if collected by one bank and presented by other bank
- When a partnership will dissolve
- Demand notice period under SARFAESI-ACT
- DRT is applicable for : SBI, nationalised, RRB, all
- Bank Guarantees
- Many questions on mortgages
- Income tax act
- Preference shares
- Bill of exchange
Banking ombudsman 4 questions
DRT appllete is headed by ……..appointed by central govt.
LC 3 questions case study 1
Advising banking is called……
Whether advising bank is to take part in liability of LC
Macmillan book back questions 5-6 – Average 3-5 questions coming
Key used to create digital signature…..Private key
RTI Act …..Getting info from…..Public authorities
Exemption of RTI Act
Bankers book evidence 2 questions one from Macmillan book
How much we have to pay to get copy from the abovesaid paper n copies…
Sarfaesi 3-4 questions out of one case study….
What type of charge in case of goods under manufacturing…..
Under pledge unlike mortgage….Some differences were given in the options
N deposit in bank Z with branch manager C .L is the introducer of N.N got LOD from that bank.Who has lended to whom?
R has shares in limited company.R dies what will happen to shares…..?
In case of safe deposit vault, customer is called as….
X a customer lost the TDR and bank gave duplicate receipt receiving indemnity from X.Here who is indemnified to whom?
Parties in a contract……
Bank guarantee 2 questions…
What is reverse mortgage
Tenure of banking ombudsman
Fee require for RTI
Mode of accepting complain by banking ombudsman
One question on arranging orders for different type of mortgage
One question on arranging orders for different type of charges
Limitations period will be extended,-on credits to ac
Material alteration of cheque without authentiaction of bearer
Bank buy a cheque from A and give advance but cheque got returned-from whom bank will recover
A presented a cheque for clearing and went abroad, cheque got returned for financial reason after I year. A returned and found no credit in his account and bank lost the cheque- responsibility of bank and customer
Lmitaton period of of account
Lok adalat is conducted by….
Supply bill is related to?
Charge on laon against FD receipt.the customer in this case is
BRA 1949 mainly deals with
Max period of limitation in case of bill of exchange and bond without due date
Bill supported by document is called?
Bill payable after certain period called?
Financial statements must by signed and authorised by whom?
Assstment year for corporate entities
Presiding officer holds office till
Information can be sought by whom under RTI act
Which is considered good as security? -FDR receipt Debentures shares…
Object clause of MOA
Articles of association related
Partner become insolvent bank should??
Partnership firm may be dissolved by
Director of bank can do his personal work along with his post ? allowed or not
In case of conversion.. protection will be given to
Sec 131 NI act
Which type of comp cant be raised with ombudsman
Peculinary amount in case of DRTMax period of registration of charge with or without fine
Vice chairman of board on fin supervision is elected by?
Minor to decide whether to be a partner within ???
Consequences of unreg partnership firm
All partner can check book of the firm
Liability in indemnity?
Arbitration is applicable in ??
Decision passed by ombudsman is called
Minor can be a member in Pvt Ltd public Ltd company?
Questions on limitation act ..it’s importance to banks
Questions on charge
Role of opening bank in LC
Regarding laon of limited company who will sign laon paper
Regarding loans to partnership firm.
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