Final Accounts of Banking Companies - Module 2

Name of Student

Roll Number

1. The Regulator of Banking Companies in India

• SEBI
• RBI
• SBI
• All of the above

2. The Act which regulates banking business in India

• Banking Regulation Act 2013
• Banking Regulation Act 1991
• Banking Regulation Act 1956
• Banking Regulation Act 1949

3. Which of the following is correct as per Sec 5(b) of Banking Regulation Act

• Lending for the purpose of accepting or investment of deposits of money
• Accepting for the purpose of lending or investment of money
• Both are correct
• None are correct

4. Scheduled banks are those banks whic are named in the ...................

• Second Schedule of Banking Regulation Act 1949
• Second Schedule of RBI Act 1934
• Third Schedule of Bnking Regulation Act 1949
• Third Schedule of RBI Act 1934

5. Which is the major source of income for banking companies

• Sales Revenue
• Interest Income
• Royaltee
• Commission on Sales

6. The major expenditure for a banking company is ....

• Salary to staff
• Rent of building
• Commission to agents
• Interest to Deposits

7. Banking Companies are generally NOT allowed to undertake ........ as per Sec 8 of the Banking Regulation Act

• Trading of goods
• Accepting of Deposits
• Lending of Money
• Transfer of Funds

8. Non- Banking Assets generally means ....

• Assets of other comanies
• Assets constructed by banks for customer satisfaction
• Assets created for employee satisfaction
• Assets seized in satisfaction of dues from defaulted customers