Practice Banking Related Laws Questions and Answers

• An Arbitration agreement can be :
• What is the time period for which there is a bar on the future employment of members as per the IRDA Act, 1999?
• Which of the following is a key function of the Reserve Bank of India (RBI) under FEMA? 
• Under Section 29A of the Insolvency and Bankruptcy Code, 2016, which of the following persons is INELIGIBLE to submit a resolution plan?
• Under the Recovery of Debts and Bankruptcy Act, 1993, what is the minimum debt amount for which a bank or financial institution can file an application bef...
• Under Section 45ZB of the RBI Act, 1934 (inserted by the Finance Act, 2016), the Monetary Policy Committee (MPC) is constituted to determine the Policy Rat...
• Under Section 4 of the Prevention of Money Laundering Act, 2002, what is the prescribed punishment for the offence of money laundering where the proceeds o...
• Under Clause 4 of the Banking Ombudsman Scheme, 2006, who appoints the Banking Ombudsman, and what is the maximum tenure for a single appointment?
• Under Section 5 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, what is the minimum qualification required for a person to be a...
• Under Section 21 of the RDDBFI Act, 1993, what percentage of the debt amount (as determined by the DRT) must a person deposit with the Debt Recovery Appell...
• Section 2 of the Banking Regulation Act, 1949 states that the provisions of this Act shall be in addition to, and not in derogation of, the Companies Act, ...
• Under Section 3 of the Banking Regulation Act, 1949, the Act shall not apply to a primary agricultural credit society or to a co-operative society whose pr...
• Under Section 4(1) of the Banking Regulation Act, 1949, the Central Government may, on a representation by the Reserve Bank and if satisfied that it is exp...
• Section 10BB of the Banking Regulation Act, 1949 empowers the Reserve Bank to appoint a chairman of the Board of directors (on a whole-time basis) or a man...
• Section 10C of the Banking Regulation Act, 1949 grants an exemption from holding qualification shares in the banking company to which of the following cate...
• Section 10D of the Banking Regulation Act, 1949 provides that any appointment or removal of a director, chairman or managing director in pursuance of Secti...
• Section 12(1)(i) of the Banking Regulation Act, 1949 conditions the right to carry on banking business in India on the banking company satisfying certain c...
• Section 12(2) of the Banking Regulation Act, 1949 limits the voting rights that any person holding shares in a banking company may exercise on poll. The cu...
• Section 12A of the Banking Regulation Act, 1949 empowers the Reserve Bank to require a banking company to call a general meeting of shareholders to elect f...
• Section 20A of the Banking Regulation Act, 1949 restricts the power of a banking company to remit debts. Under this section, a banking company shall not, e...
• Section 21(2) of the Banking Regulation Act, 1949 empowers the Reserve Bank to give specific directions to banking companies regarding advances policy. Whi...
• Section 24(7) of the Banking Regulation Act, 1949 provides for personal liability of certain officers when a banking company persistently defaults in maint...
• Section 26A of the Banking Regulation Act, 1949 establishes the Depositor Education and Awareness Fund. Under sub-section (2), the amount to the credit of ...
• Section 36A(2) of the Banking Regulation Act, 1949 deals with banking companies whose licences have been cancelled or which have been prohibited from accep...
• Section 35A(1) of the Banking Regulation Act, 1949 empowers the Reserve Bank to issue directions to banking companies generally or to any banking company i...
• Section 36AB of the Banking Regulation Act, 1949 empowers the Reserve Bank to appoint additional directors on the Board of a banking company. Under sub-sec...
• Under Section 36AE of the Banking Regulation Act, 1949, the Central Government may, on a report from the Reserve Bank, acquire the undertaking of a banking...
• Section 38(3)(b) of the Banking Regulation Act, 1949 lists circumstances in which the Reserve Bank may make an application for the winding up of a banking ...
• Section 41 of the Banking Regulation Act, 1949 requires the official liquidator of a wound-up banking company to submit a preliminary report to the High Co...
• Section 43 of the Banking Regulation Act, 1949 provides a special evidentiary rule in winding-up proceedings. Under this section, every depositor of the ba...
• Section 44B of the Banking Regulation Act, 1949 restricts the power of the High Court to sanction compromises or arrangements involving a banking company. ...
• Section 45ZB of the Banking Regulation Act, 1949 provides that no notice of the claim of any person, other than the person or persons in whose name a depos...
• Following the Banking Laws (Amendment) Act, 2025, Section 45ZC(1) of the Banking Regulation Act, 1949, which governs nominations for the return of articles...
• Under Section 45(2) of the Banking Regulation Act, 1949, the Central Government, after considering an application from the Reserve Bank, may make an order ...
• Section 54 of the Banking Regulation Act, 1949 confers a protection against suits and legal proceedings. Under sub-section (1), no suit or other legal proc...
• Under Section 4(2) of the Banking Regulation Act, 1949, in a case of special emergency, the Governor of the Reserve Bank (or a nominated Deputy Governor) m...
• Under the definition of “approved securities” in Section 5(a) of the Banking Regulation Act, 1949, as substituted by the Banking Laws (Amendment) Act, ...
• Section 5A of the Banking Regulation Act, 1949, which provides that the Act shall have effect notwithstanding anything to the contrary contained in the mem...
• Section 6(2) of the Banking Regulation Act, 1949 prohibits a banking company from engaging in any form of business other than those enumerated in sub-secti...
• Section 7(2) of the Banking Regulation Act, 1949 prohibits a firm, individual or group of individuals from using as part of their name the words “bank”...