Regional rural bank means a regional rural bank established under section 3 of the Regional Rural Banks Act, __________.

Related MCQs

• Reserve Bank means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, _________.
• In which year, the Banking Regulation Act was amended to include cooperative banks under its purview by adding the Section 56.
• Under what section of the Banking Regulation Act, 1949 the payments banks are licensed?
• In case collection of a bank draft the collecting banker is protected against conversion under _____ section of Negotiable Instruments Act 1881.
• The Reserve Bank of India is given the responsibility of regulating and supervising the _________ under Reserve Bank of India Act, 1934.
• Banks are required to maintain SLR under which act?
• Which of the following is/are false about Dishonour of Cheque? A) Section 138 defines Dishonour of cheque for insufficiency, etc., of funds in the account. B) Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier C) Imprisonment for such offence may be extended for period of five year D) Section 138 apply unless – the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.
• Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note is … A) Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act B) Containing an unconditional undertaking C) To pay a certain sum of money only to a specific person or the bearer D) The seller is bound to accept the promissory note E) A document was written and signed by the payer/maker
• Which section of Banking Regulation Act 1949 relates with the Power of Reserve Bank to issue directions in respect of stressed assets?
• Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.