6 Questions
What percentage of profit should a bank transfer to the reserve fund before declaring dividends?
20%
For a Non-Scheduled bank, what determines the percentage to be maintained as Cash Reserve Ratio (CRR)?
A percentage prescribed by RBI
Under which section does the RBI have the authority to issue directives to banks regarding advances?
Section 21
Are the interest rates charged by banks subject to scrutiny by courts under the Banking Regulation Act?
No, they are not subject to court scrutiny
When opening a new branch or relocating an existing branch, what do banks need to obtain from RBI?
License
What is required from RBI to commence or carry on banking business in India?
License from RBI
Test your knowledge about the provisions of the Banking Regulation Act and RBI Act related to reserve funds, dividend declaration, and cash reserve ratio. Learn about the minimum profit transfer to the reserve fund and the requirements for maintaining CRR for a Non-Scheduled bank as prescribed by RBI.
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