Banking awareness quiz 66( Acts in india)

Take a test

Q 1) What is an act of the Parliament of India which provided a legal framework for the issuance and servicing of government securities in India ?

A. Public Debt Act, 1944

B. Government Securities Act, 2006

C. Companies Act ,1956

D. Both A & B

Q 2) PSS Act, 2007 provides for the regulation and supervision of payment systems in India , What is the fullform of PSS ?

Payment and Settlement Systems

Payment and Sentiment Systems

Payee and Sender Systems

Payment and Sequence Systems

Q 3) What is a legislation in India that regulates all banking firms in India ?

Banking Regulation Act, 1956

Companies Act , 1956

Banking Regulation Act, 1949

RBI Act , 1934

Q 4) What is the legislative act under which the Reserve Bank of India was formed ?

Public debt Act ,1944

Reserve Bank of India Act, 1949

Reserve Bank of India Act, 1934

Banking regulation Act ,1949

Q 5) What is an Act of the Parliament of India which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company ?

A. Companies Act ,1956

B.Companies Act ,2013

C. Banking regulation Act ,1949

D. Both A & B

Q 6) What is an Indian law, which allows banks and other financial institution to auction residential or commercial properties to recover loans?

Companies Act ,1956

Sarfaesi Act , 2002

Sarfaesi Act , 2000

DICGC Act , 1956

Q 7) What is an Act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India ?

Foreign Exchange Regulation Act, 1973

Foreign Exchange Regulation (Amendment) Act, 1993

Foreign Exchange Management Act, 1999

All The Above

Q 8) which of the following act deals mainly with promissory notes, bill of exchange and cheques ?

Banking regulation Act ,1949

Negotiable Instruments Act, 1881

Companies Act ,1956

Public Debt Act, 1944

Q 9) Which one of the following is false ?

DICGC is a subsidiary of RBI established on 15 July 1978 under DICGC Act, 1961

NABARD was established on the recommendations of B.Sivaraman Committee on 12 July 1982 to implement the NABARD Act 1981.

National Housing Bank (NHB), a wholly owned subsidiary of RBI, was set up on 9 July 1988 under the NHB Act, 1987

Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutary agency tasked with regulating and promoting the insurance and re-insurance industries in India under Public Debt Act, 1944

Q 10) Which one of the following is false ?

The government has nationalized 14 major commercial banks on 19th July, 1969 under Banking companies Act 1970.

The government has nationalized remaining 6 major commercial banks on April 1980 under Banking companies Act 1980.

State Bank of india follows the Banking companies Act ,1970

RRB Act 1976 to provide sufficient banking and credit facility for agriculture and other rural sectors through RRB's

Take More Banking Awareness Quizzes from below

• Banking awareness quiz 65(On Bank Definitions-4)
• Banking awareness quiz 64(On Bank Definitions-3)
• Banking awareness quiz 63(On Bank Definitions-2)
• Banking awareness quiz 62(On Types of Banking)
• Banking awareness quiz 61(On Bank Definitions)

<-Previous || Next->

Static GK Quizzes

Time taken : (HH : MM :SS)

Do you want to take more banking awareness quizzes then ,Click here

SUBSCRIBE(must and should verify) & FOLLOW to get more tricks via E-mail