MCQ on Banking Law

MCQ on Banking Law – Multiple choice questions

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In this article we are providing you MCQ on Banking law which will help to understand the banking laws

MCQ on Banking Law – Multiple choice questions

Banking law in India

  1. Reserve Bank of India Act, 1934
  2. Banking Regulation Act, 1949
  3. Prevention of Money Laundering Act, 2002
  4. Foreign Exchange Management Act, 1999
  5. Limitation Act, 1963
  6. Recovery of Debts Due to Banks and Financial Institutions Act, 1993
  7. SARFAESI Act, 2002
  8. Lenders Liability Act
  9. The Consumer Protection Act, 1986
  10. Bankers’ Book Evidence Act, 1891

  • Reserve Bank of India Act, 1934

    • Reserve Bank of India Act,1934 come into force on 01 April 1935.

    1) Which section of The RBI Act 1934 deals with the Power of Bank to collect credit information?

    A. Section 42 of The RBI Act 1934
    B. Section 49 of The RBI Act 1934
    C. Section 44 of The RBI Act 1934
    D. Section 45B of The RBI Act 1934

    Answer – D. Section 45B of The RBI Act 1934

    2) Which section of The RBI Act 1934 deals with the Rural Credit and Development?

    A. Section 42 of The RBI Act 1934
    B. Section 49 of The RBI Act 1934
    C. Section 54 of The RBI Act 1934
    D. Section 20 of The RBI Act 1934

    The Banking Regulation Act 1949

    The Banking Regulation Act 1949, come into force on 16 March 1949

    1) Which section of The Banking Regulation Act 1949 deals with the Special provisions for private banking companies?

    A. Section 42 of The Banking Regulation Act 1949
    B. Section 49 of The Banking Regulation Act 1949
    C. Section 44 of The Banking Regulation Act 1949
    D. Section 40 of The Banking Regulation Act 1949

    Answer – B. Section 49 of The Banking Regulation Act 1949

    2) Which section of The Banking Regulation Act 1949 deals with the Reserve Bank to be official liquidator?

    A. Section 39 of The Banking Regulation Act 1949
    B. Section 29 of The Banking Regulation Act 1949
    C. Section 24 of The Banking Regulation Act 1949
    D. Section 30 of The Banking Regulation Act 1949

    Answer – A. Section 39 of The Banking Regulation Act 1949

  • Prevention of Money Laundering Act, 2002

    • The Prevention of Money Laundering Act 2002, come into force on 01 July 2005

    1) Which section of The Prevention of Money Laundering Act 2002 deals with Continuation of proceedings in the event of death or insolvency ?

    A. Section 66 of The Prevention of Money Laundering Act 2002
    B. Section 71 of The Prevention of Money Laundering Act 2002
    C. Section 72 of The Prevention of Money Laundering Act 2002
    D. Section 68 of The Prevention of Money Laundering Act 2002

    Answer – C. Section 72 of The Prevention of Money Laundering Act 2002

    2) Which section of The Prevention of Money Laundering Act 2002 deals with Right of appellant to take assistance of authorized representative and of Government to appoint presenting officers. ?

    A. Section 36 of The Prevention of Money Laundering Act 2002
    B. Section 31 of The Prevention of Money Laundering Act 2002
    C. Section 42 of The Prevention of Money Laundering Act 2002
    D. Section 39 of The Prevention of Money Laundering Act 2002

    Answer – D. Section 39 of The Prevention of Money Laundering Act 2002

    The Foreign Exchange Management Act, 1999

    The Foreign Exchange Management Act, 1999 come into force on 01 June 2000

    1) Which section of the Fema Act 1999 deals with Powers of Reserve Bank not to apply to International Financial Services Centre.?

    A. Section 44 of Fema Act 1999
    B. Section 44A of Fema Act 1999
    C. Section 34 of Fema Act 1999
    D. Section 20 of Fema Act 1999

    Answer – B. Section 44A of Fema Act 1999

    2) Which section of the Fema Act 1999 deals with Procedure and powers of Appellate Tribunal and Special Director (Appeals)?

    A. Section 28 of Fema Act 1999
    B. Section 29 of Fema Act 1999
    C. Section 24 of Fema Act 1999
    D. Section 22 of Fema Act 1999

    Answer -A. Section 28 of Fema Act 1999

  • Limitation Act, 1963

    • The Limitation Act come into force on 1st January, 1964

    1) Which section of THE LIMITATION ACT, 1963 deals with the Effect of death on or before the accrual of the right to sue?

    A. Section 12 of THE LIMITATION ACT, 1963
    B. Section 17 of THE LIMITATION ACT, 1963
    C. Section 16 of THE LIMITATION ACT, 1963
    D. Section 22 of THE LIMITATION ACT, 1963

    Answer – C. Section 16 of THE LIMITATION ACT, 1963

    2) Which section of THE LIMITATION ACT, 1963 deals with the Suits for compensation for acts not actionable without special damage?

    A. Section 23 of THE LIMITATION ACT, 1963
    B. Section 17 of THE LIMITATION ACT, 1963
    C. Section 16 of THE LIMITATION ACT, 1963
    D. Section 22 of THE LIMITATION ACT, 1963

    Answer – A. Section 23 of THE LIMITATION ACT, 1963

    Recovery of Debt and Bankruptcy Act 1993

    The Recovery of Debt and Bankruptcy Act 1993, come into force on 24 June 1993

    1) Which section of The Recovery of Debt and Bankruptcy Act 1993 deals with Stay of proceedings under certificate and amendment or withdrawal thereof ?

    A. Section 26 of The Recovery of Debt and Bankruptcy Act 1993
    B. Section 24 of The Recovery of Debt and Bankruptcy Act 1993
    C. Section 23 of The Recovery of Debt and Bankruptcy Act 1993
    D. Section 27 of The Recovery of Debt and Bankruptcy Act 1993

    Answer – D. Section 27 of The Recovery of Debt and Bankruptcy Act 1993

    2) Which section of The Recovery of Debt and Bankruptcy Act 1993 deals with Jurisdiction, powers and authority of Tribunals ?

    A. Section 16 of The Recovery of Debt and Bankruptcy Act 1993
    B. Section 17 of The Recovery of Debt and Bankruptcy Act 1993
    C. Section 13 of The Recovery of Debt and Bankruptcy Act 1993
    D. Section 22 of The Recovery of Debt and Bankruptcy Act 1993

    Answer – B. Section 17 of The Recovery of Debt and Bankruptcy Act 1993

    SARFAESI Act 2002

    SARFAESI Act 2002, come into force on 21 June 2002

    1) Which section of the SARFAESI Act 2002 deals with Register of securitisation, reconstruction and security interest transactions?

    A. Section 22 of SARFAESI Act 2002
    B. Section 29 of SARFAESI Act 2002
    C. Section 24 of SARFAESI Act 2002
    D. Section 20 of SARFAESI Act 2002

    Answer – A. Section 22 of SARFAESI Act 2002

    2) Which section of the SARFAESI Act 2002 deals with Civil court not to have jurisdiction?

    A. Section 32 of SARFAESI Act 2002
    B. Section 39 of SARFAESI Act 2002
    C. Section 34 of SARFAESI Act 2002
    D. Section 30 of SARFAESI Act 2002

    Answer – C. Section 34 of SARFAESI Act 2002

  • The Consumer Protection Act, 1986

    • Consumer protection act 2019 come into force on 20th July 2020

    1) Which section of the Consumer Protection Act, 2019 deals with Punishment for false or misleading advertisemen ?
    A. Section 76 of the Consumer Protection Act, 2019
    B. Section 84 of the Consumer Protection Act, 2019
    C. Section 83 of the Consumer Protection Act, 2019
    D. Section 89 of the Consumer Protection Act, 2019

    Answer – D. Section 89 of the Consumer Protection Act, 2019

    2) Which section of the Consumer Protection Act, 2019 deals with Jurisdiction of National Commission ?
    A. Section 58 of the Consumer Protection Act, 2019
    B. Section 54 of the Consumer Protection Act, 2019
    C. Section 53 of the Consumer Protection Act, 2019
    D. Section 83 of the Consumer Protection Act, 2019

    Answer – A. Section 58 of the Consumer Protection Act, 2019

  • Bankers’ Book Evidence Act, 1891

    • The Bankers’ Book Evidence Act, 1891, Enacted on 13 March 1891
    The Bankers’ Book Evidence Act, 1891, come into force on 01 April 1892

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