Banking Awareness Quiz – Set 19 – Important Sections of Banking Act

Hello and welcome to exampundit. Today we are sharing Important Banking Awareness Questions on Important Sections of Banking Act. We have created the questions based on the Note Diameters, Color, Motif & other important information.

The following Banking and Financial Awareness Quiz on Important Sections of Banking Act is important for the upcoming IBPS PO, Clerk, IBPS RRB and Indian Bank PGDBF 2018.

Following set of Banking and Financial Awareness Quiz has 12 questions From Important Sections of Banking Act with 5 minutes time and moderate level of difficulty.

 

The following questions are created as per the recent trends and level of Bank PO & Clerk General Awareness 2018.

Test Name: Banking Awareness Quiz for Bank PO & Clerk 2018

Duration: 5 min

Level: Moderate

All the best.

 


Banking Awareness Quiz on Important Sections of Banking Regulations Act 1949

 

1. How many sections are there in total in Banking Regulation Act 1949?
(1) 48
(2) 54
(3) 47
(4) 56
(5) 51

Show Answer
Option: 4

 

2. Which of the following section in the Banking Regulation Act 1949 defines the use of words “bank”, “banker”, “banking” or “banking company”?
(1) Section 1
(2) Section 7
(3) Section 2
(4) Section 3
(5) Section 5

Show Answer
Option: 2

 

3. Which section of Banking Regulation Act 1949 give Power to the Reserve Bank to give directions?
(1) Section 42
(2) Section 42A
(3) Section 47
(4) Section 47A
(5) Section 35A

Show Answer
Option: 5

 

 

4. In which of the following section co-operative societies are introduced in Banking Regulation Act 1949?
(1) Section 31
(2) Section 48
(3) Section 56
(4) Section 37
(5) Section 28

Show Answer
Option: 3

 

 

5. Which section of Banking Regulation Act 1949 gives power to Reserve Bank to impose penalty?
(1) Section 39A.
(2) Section 42A.
(3) Section 35A.
(4) Section 47A.
(5) Section 27A.

Show Answer
Option: 4

 

 

6. Which section of Banking Regulation Act 1949 has Statutory Liquidity Ratio?
(1) Section 24
(2) Section 22
(3) Section 23
(4) Section 25
(5) Section 21

Show Answer
Option: 1

 

 

7. Which of the following falls under Section 11 of Banking Regulation Act 1949?
(1) Restrictions on loans and advances.
(2) Restrictions as to payment of dividend.
(3) Cash Reserves
(4) Licensing of banking companies.
(5) Requirement as to minimum paid-up capital and reserves.

Show Answer
Option: 5

 

 

8. Which section of Banking Regulation Act 1949 gives power to Central Government to make rules?
(1) Section 7
(2) Section 52
(3) Section 21
(4) Section 38
(5) Section 47

Show Answer
Option: 2

 

 

9. Which section of Banking Regulation Act 1949 gives power to Reserve Bank to appoint chairman of the Board of directors appointed on a whole-time basis or a managing director of a banking company?
(1) Section 8A
(2) Section 10BB
(3) Section 7B
(4) Section 10A
(5) Section 12AA

Show Answer
Option: 2

 

 

10. Under which section of Banking Regulation Act 1949 banks are prohibited from opening a new branch without Reserve Bank of India’s approval?
(1) Section 28
(2) Section 26
(3) Section 23
(4) Section 18
(5) Section 34

Show Answer
Option: 3

 

 

11. Under which section of Banking Regulation Act 1949, special provisions for Private Banking Companies directed?
(1) Section 49
(2) Section 47
(3) Section 51
(4) Section 43
(5) Section 55

Show Answer
Option: 1

 

 

12. Which of the following section of Banking Regulation Act 1949 directs licensing of banking companies?
(1) Section 20
(2) Section 15
(3) Section 29
(4) Section 22
(5) Section 38

Show Answer
Option: 4

 

Don’t forget to read the Important Sections in Banking Regulation Act 1949

 

Regards

Team Exampundit