Practice Banking Related Laws Questions and Answers

• In the context of the establishment of Permanent Lok Adalats under the Legal Services Authorities Act, what is the role of the Central Authority or State A...
• Parties are free to determine the number of arbitrators in an Arbitral Tribunal provided that-
• In  matters other than International  Commercial Arbitration, the time limit for making an arbitral award is-
• Which body among the following has the power to appoint an expert for assistance?
• As per the Legal Sevice Authorities Act the term Court means_________________
• Doctrine of Frustration of contract is laid down under which section of the Contract Act?
• What is the enactment date of Contract Act, 1872?
• An agent who is guilty of misconduct in the business of the agency, is___________________
• Which section of the Indian Contract Act deals with the provisions relating to a suit by bailor or bailee against wrong-doer?
• Who has the power to audit the accounts of the Authority under the IRDA Act?
• The word “Of India” was added to the IRDA with effect from_______________________ as per the IRDA Act
• The Bharatiya Nagarik Suraksha Sanhita proposed changes includes ___________________
• The establishment of the Insurance Regulatory Development Authority was based on the recommendations of____________
• According to the Insurance Act what is the prescribed duration for the Executive Committee of the Life Insurance Council or the General Insurance Council?
• In accordance with Section 26 of the General Insurance Business (Nationalisation) Act, how is every acquiring company treated for the purposes of the Incom...
• According to the Bhartiya Nagarik Suraksha Sanhita, what does "investigation" include________________
• As per the Companies Act how many directors, at a minimum, should the Audit Committee consist of?
• In the context of voluntary liquidation of a corporate person as laid down under the IBC, what is the next step after the affairs have been completely woun...
• In Section 2(10) of the Bharatiya Nyaya Sanhita, 2023, the definition of gender now encompasses ________________.
• Which section of the Bharatiya Sakshaya Adhiniyam, 2023 delas with the provisions related to confession to the police?
• As per the provisions of the Companies Act which of the following is not a responsibility of the registered valuer?
• What is the outcome for a company following its dissolution under section 248?
• In situations where it is determined that a company's application under section 248 was made with the intention of evading liabilities, deceiving creditors...
• As per the provisions of the  Bharatiya Nyaya Sanhita, what does the term "deceitful means" include in cases where a person engages in sexual intercourse ...
• Under the Prevention of Money Laundering Act (PMLA), 2002, which of the following is a "reporting entity" under the Act?
• Under the Bharatiya Sakshya Adhiniyam, 2023, which of the following statements best reflects the admissibility of electronic evidence?
• Which of the following statements correctly describes the concept of 'One Person Company' (OPC) under the Companies Act, 2013?
• 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...