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Questions and Answers
What percentage of profit should a bank transfer to the reserve fund before declaring dividends?
What percentage of profit should a bank transfer to the reserve fund before declaring dividends?
- 10%
- 40%
- 20% (correct)
- 30%
For a Non-Scheduled bank, what determines the percentage to be maintained as Cash Reserve Ratio (CRR)?
For a Non-Scheduled bank, what determines the percentage to be maintained as Cash Reserve Ratio (CRR)?
- A percentage prescribed by RBI (correct)
- A fixed rate set by law
- A maximum allowed by RBI
- A minimum set by the government
Under which section does the RBI have the authority to issue directives to banks regarding advances?
Under which section does the RBI have the authority to issue directives to banks regarding advances?
- Section 17
- Section 18
- Section 24
- Section 21 (correct)
Are the interest rates charged by banks subject to scrutiny by courts under the Banking Regulation Act?
Are the interest rates charged by banks subject to scrutiny by courts under the Banking Regulation Act?
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When opening a new branch or relocating an existing branch, what do banks need to obtain from RBI?
When opening a new branch or relocating an existing branch, what do banks need to obtain from RBI?
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What is required from RBI to commence or carry on banking business in India?
What is required from RBI to commence or carry on banking business in India?
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