Banking Laws (Amendment) Bill, 2024 MCQs PDF

Banking Laws (Amendment) Bill, 2024 MCQs 1. What does the Banking Laws (Amendment) Bill, 2024 propose to amend? A. The GST Act, 2017 B. The RBI Act, 1934 and related banking acts C. The IT Act, 2000 D. The Companies Act, 2013 Correct Answer: B 2. What new feature does the bill introduce...

Banking Laws (Amendment) Bill, 2024 MCQs 1. What does the Banking Laws (Amendment) Bill, 2024 propose to amend? A. The GST Act, 2017 B. The RBI Act, 1934 and related banking acts C. The IT Act, 2000 D. The Companies Act, 2013 Correct Answer: B 2. What new feature does the bill introduce regarding depositor nominations? A. Allows only one nominee per account B. Restricts the nomination to family members only C. Allows depositors to nominate up to four nominees simultaneously D. Removes the ability to nominate successors for accounts Correct Answer: C 3. Under the Banking Laws (Amendment) Bill, 2024, what is the new threshold for substantial interest in shareholding for directorships? A. Increased from Rs 50,000 to Rs 1 crore B. Increased from Rs 5 lakh to Rs 2 crore C. Reduced from Rs 10 lakh to Rs 50,000 D. No change was made to shareholding thresholds Correct Answer: B 4. What change does the bill propose for the tenure of directors in cooperative banks? A. Extends tenure from 8 years to 10 years B. Reduces tenure from 10 years to 5 years C. Extends tenure from 5 years to 8 years D. No change was proposed for the tenure of directors Correct Answer: A 5. Which fund is affected by the amendments in the Banking Laws (Amendment) Bill, 2024 regarding unclaimed dividends and shares? A. Consolidated Fund of India B. Investor Education and Protection Fund (IEPF) C. Pension Fund D. Disaster Relief Fund Correct Answer: B