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Other Acts & Provisions related to Banking
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1.
What is the primary role of the Reserve Bank of India (RBI) in the implementation of the Insolvency and Bankruptcy Code (IBC)?
To provide loans to distressed companies
To initiate corporate insolvency resolution processes (CIRPs) in cases of default
To oversee foreign investments in banks
To regulate interest rates on loans
2.
What recent change has the Reserve Bank of India (RBI) made to the KYC norms?
Mandatory fresh CDD for all accounts
CDD applied at the UCIC level
Elimination of all KYC requirements
Increased documentation for existing customers
3.
In which year was the Indian Contract Act enacted, which governs contracts in the banking sector?
1862
1872
1882
1892
4.
How does the Reserve Bank of India (RBI) enhance compliance with anti-money laundering regulations?
By eliminating KYC requirements
By refining identity verification standards
By reducing monitoring of high-risk accounts
By allowing self-regulation of financial institutions
5.
Which regulations govern bank mergers in India under the Competition Act, 2002?
Banking Regulation Act, 1949
Combination Regulations, 2011
Securities and Exchange Board of India Act, 1992
Reserve Bank of India Act, 1934
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These questions are part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations.
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