Banking unit 3

1. On which date did the SARFESI Act received the assent of the President of India?
17 December, 2002
2. Debt or receivables are generally termed as_________in the SARFEASI Act?
Financial Asset
3. The Banking Ombudsman Scheme was introduced under Section 35 A of the Banking Regulation Act, 1949
by RBI with effect from _______:
1995
4. Which of the following are to be followed by Commercial Banks for risk management?
BASEL II norms
5. Who will act as regulator under IBC, 2016?
Insolvency and Bankruptcy Board of India (IBBI)
6. Which section of Banking regulation Act, 1949 related with the amalgamation of two companies?
Section 44A
7. Which one of the following is controlled by the World Wide Web?
Virtual Banking
8. Which of the following is not true about Payments Bank? 
a. Payment Banks can issue ATM/Debit cards but credit cards
b. Payment Banks can give a loan of upto only Rs.1 lakh
c. Initial Capital required for a Payments Bank is Rs. 100 crore
d. Payments Bank must maintain Cash Reserve Ratio (CRR) as decided by RBI
9. Banking Ombudsman is a senior official appointed by the RBI to redress customer complaint specified under
which clause of the Banking Ombudsman Scheme 2006?
Clause 5
Clause 6
Clause 7
Clause 8
10.Which of the following statements is/are correct about Payments Bank?
1. The Reserve Bank of India (RBI) recently gave a license to India Post to function as a payments
bank.
2. Payment banks allow mobile firms, supermarket chains, and others to cater to individuals and small businesses.
only 1
only 2
bothnone of the above.
11. When was the Insolvency and Bankruptcy Board of India set up?
October 1, 2016