Question
Who are not competent to Contract as per the Contract
Act?Solution
Section 11. Who are competent to contract: Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind and is not disqualified from contracting by any law to which he is subject.
InsureCo writes a portfolio of 12-month fire insurance policies on 1 Oct (policy year Oct–Sep). Premiums are received upfront. Historical claims are s...
The 'MCLR' (Marginal Cost of Funds based Lending Rate) system replaced the earlier 'Base Rate' system. What is a key component in calculating MCLR?
"Operational Risk" includes risk arising from:
What is the maximum aggregate balance allowed in accounts opened using Aadhaar OTP-based e-KYC in non-face-to-face mode?
Nostro account is maintained in:
A borrower has defaulted on a term loan for over 90 days. The bank categorizes the account as an NPA. Later, the borrower partially repays the overdue a...
The process of converting a physical cheque into an electronic image for faster processing is called:
A bank has statutory reserve requirement of 25% of Net Profit before appropriations. Net Profit before appropriations = ₹40 crore. Transfer to reserve...
An Indian exporter raises a Letter of Credit (LC) worth USD 1,00,000. The exchange rate on the LC issuance date is ₹83.50/USD. The bank charges 0.25% ...
When the RBI increases the "Repo Rate," it generally leads to:
