Banking Theory Law & Practice

1. Reserve Bank of India is established on

• 10 th Feb 1934

• 1 st April 1935

• 27 th March 1949

• 1 st August 1950

2. The bank can consider ____ lien as their protection against loan or overdraft which was given to its customer.

• General

• Special

• Particular

• Lending

3. The right of set off of customer’s account can be exercised by

• Banker

• Customer

• Debtor

• Creditor

4. A company which accepts demand deposit is called as

• Joint Stock Company

• Banking Company

• Manufacturing Company

• IT Company

5. RTGS stands for

• Real Time Grass Sent

• Real Time Gross Settlement

• Rear Time Gross System

• None of the above

6. The main aim of a banker for performing the subsidiary services is to earn _________ of the customers.

• Money

• Documents

• Valuable

• Goodwill

7. A cheque dated subsequent to the date of its issue is called as

• Anti dated cheque

• Post dated cheque

• Crossed cheque

• Stale cheque

8. ECS stands for

• Electric Censor System

• Electronic Clearing Service

• Electronic Cross System

• None of the above

9. EFT is introduced by

• IRDA

• SBI

• RBI

• HDFC

10.A Garnishee order is issued by

• Income tax authorities

• Bank

• Court

• None of the above