NI ACT

Which section of NI Act. defines Holder in Due Course.

• Section 7 of NI Act
• Section 6 of NI Act
• Section 9 of NI Act
• Section 8 of NI Act

Under which section of NI Act. A paying banker gets protection while payments of cheques?

• Section 80 of NI Act.
• Section 85 of NI Act.
• Section 82 of NI Act.
• Section 84 of NI Act.

Which one of the subject is not related to payment in due course

• Payment as per apparent tenor of instrument.
• Payment in Good faith and without negligence.
• Payment to person in possession of instrument.
• None of the above.

As per RBI guide line a cheque becomes stale cheque after how many months of its issue?

• 3 Months.
• 4 Months.
• 5 Months.
• 6 Months.

If amount written words and figures differ in cheque, which one should be done by a banker as per practice?

• Amount in words should be paid.
• Amount in figure should be paid.
• Cheque should be return stating reason amount in words and figures mismatch.
• Amount should be paid as per discretion of the banker.

Which section of NI Act deals with the dishonour of cheque for insufficient of balance or exceeds Arrangement to be paid from that account?

• Section 135 of NI Act.
• Section 136 of NI Act.
• Section 137 of NI Act.
• Section 138 of NI Act.

What is the maximum number of partner in a partnership firm as per companies act 2013?

• 10 Partners
• 20 Partners
• 50 Partners
• 100 partners

Reserve Bank of India came into force on which date?

• 01.04.1934
• 01.04.1935
• 01.03.1934
• 01.03.1935

What is Bank Rate?

• Rate of interest at which Central Bank lends money to commercial Banks.
• Rate of interest at which commercial Banks lends money to Central Bank.
• Rate of interest at which Commercial Banks lends money to its customer.
• Rate of interest at which one commercial Bank lends money to another commercial Bank.

What should be the minimum percentage of the total demand and time liabilities all scheduled commercial Bank has to keep as cash Reserve Ratio with RBI?

• 0.02
• 0.04
• 0.03
• 0.05