Which of the following statements regarding DRT and DRAT as per The Recovery of Debt and Insolvency Act 1993 is True or False? 1. DRT jurisdiction for a bank is where the head office of the bank is located. 2. If a bank has filed recovery application, other bank can join the application if the defendants are same. 3. When a case get transferred from Civil Court to tribunal, fresh court fee is not required to be paid. 4. DRT cannot pass interim orders such as attachment, injunction, receiver

In the first phase of computerisation, Banks adopted Branch-level mechanisation, where stand-alone systems were used to handle transactions of specific products like Savings, Current and Loan accounts. These systems were known as _____ and were not interconnected.

Truncated cheque is defined by the ____ of Negotiable Instruments Act, as ‘a cheque which is truncated during the course of a clearing cycle, either by the Clearing House or by the bank, whether paying or receiving payment, immediately on the generation of an electronic image for transmission, substituting the further physical movement of the cheque in writing.’

On the request of the secured creditor (bank or FI), who can take possession of the security to handover it to the secured creditor under provisions of SARFAESI Act:

An account is opened by A, B and C. It is to be operated by B alone. Z is nominee. In the event of death of C, the right to operate the account rests with which of the following?

For transactions covered under Schedule III of FEMA 1999, remittances beyond the threshold ceilings require prior approval of which of the following?

Core banking solutions are Online Transaction Processing Systems on a real-time basis, where the transactions are effected in 1) all sub-systems, 2) customer accounts ledgers, 3) general ledger 4) other books of the accounts simultaneously, doing the necessary debits and credits.

PML Act and PML Rules lay down the legal requirements for measures to be taken by various types of Reporting Entities stipulated under Prevention of Money Laundering Act 2002 (PMLA). The provisions of these Directions also apply to the ___ and _____located abroad, to the extent they are not contradictory to the local laws in the host country.

If customer asks for return of the counterfeit note, tendered by him at bank counter, what the bank is required to do?

An easy and convenient way to generate a Debit card PIN through various channels like ATM, Internet Banking, IVR, and SMS, is known as?

In a Non-Resident (External) Rupee Account Scheme – NRE Account, the resident PoA holder is not allowed to: 1 open an NRE account; 2 repatriate outside India funds in the account except to the NRI account holder 3 make payment as gift to a resident on behalf of the account holder; 4 transfer funds to another NRE account.

Where a debtor, owing several distinct debts to one person, makes a payment to him, either with express intimation, or under circumstances implying, that the payment is to be applied to the discharge of some particular debt, the payment if accepted, must be applied accordingly. These are provisions of Sec ___ of Indian Contract Act?

Which of the following statements are True or False in relation to a Hindu Undivided Family? 1 Due to an amendment in 2005, to Hindu Succession Act daughters whether married or unmarried are recognised as coparceners. 2 As per Delhi High Court order the eldest female member of the family can be coparcener but not Karta in a HUF 3 When an account is opened in the name of a HUF, all the adult members have to sign even though the Karta would operate on the account. 4 When the business is ancestral, the coparceners are liable to the extent of their share in the family property and have no personal liability.

Which of the following are associated with each other and are called components of triad? 1) money laundering, 2) financial crimes, 3) terrorist financing 4) attempting frauds

Banks are increasingly using their website as a channel for receiving instructions and delivering their products and services to their customers. This form of banking is referred to as ___

Which of the following cannot organize a Lok Adalat:

The primary source of money laundering and financing of terrorism risk is- 1 customers 2 nature of products 3 country of incorporation of the bank 4 nature and value of transaction

Eligible firms and companies dealing in the purchase / sale of rough or cut and polished diamonds etc. having an average annual turnover of Rs. ___ crores or above during the preceding ___ licensing years can transact their business through Diamond Dollar Accounts.

What is the amount of fee for filing details with CERSAI for registration of the transaction, if the amount is Rs.5 lac or above

In which of the following situations, a liquidation process is automatically initiated under IBC 2016., (a) the CIRP fails as no resolution plan is received or is not approved by the CoC; (b) any of the stakeholder's defaults or deviates from terms of approved Resolution Plan; (c) creditors representing 66% of the outstanding financial debt resolve to liquidate the corporate debtor at any time before the preparation of the information memorandum. (d) the corporate debtor contravenes the CIRP and anyone prejudicially affected applies for liquidation.