RBI's Master Circular on Guarantees and Co-acceptances Quiz
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Questions and Answers

What is the purpose of the Ghosh Committee Recommendations?

  • To outline precautions for averting frauds (correct)
  • To review banks’ procedures overseas
  • To establish norms for unsecured advances & guarantees
  • To provide guidelines for conducting guarantee business

    • What do the guidelines relating to the conduct of guarantee business primarily address?

  • Guarantees for Export Advance
  • Obtaining personal guarantees of promoters, directors, and shareholders
  • Bank Guarantee Scheme of Government of India
  • Precautions for issuing guarantees (correct)

    • What is the focus of the Bank Guarantee Scheme of Government of India?

  • Guarantees on behalf of share and stock brokers/commodity brokers
  • Issuing bid bonds and performance guarantees for export
  • Providing guarantees on behalf of banks' directors (correct)
  • Obtaining personal guarantees of promoters, directors, and shareholders

    • What is the purpose of guidelines relating to obtaining personal guarantees of promoters, directors, and other managerial personnel?

    <p>To ensure additional security for borrowing concerns</p> Signup and view all the answers

    What is the focus of guidelines for issuing bid bonds and performance guarantees for export?

    <p>Guarantees for export advance</p> Signup and view all the answers

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