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IBPS RRB Office Assistant RBI Act & BR Act — practice questions — page 2

Explore 73 free RBI Act & BR Act questions in IBPS RRB Office Assistant Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

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RBI Act & BR Act questions and exercises with answers

Showing questions 31–60 of 73.

Paying a nominee on the depositor's death is treated as a valid:Read the answer and worked solution →Payment on a nomination made under some other law gives the bank:Read the answer and worked solution →A request to transfer an account to another branch must be acted on:Read the answer and worked solution →Match each law to what it settlesRead the answer and worked solution →True or false about the banking ActsRead the answer and worked solution →Sort each provision by its ActRead the answer and worked solution →Order the nomination processRead the answer and worked solution →Fill the gaps in the banking ActsRead the answer and worked solution →Must the bank do it, or must it not?Read the answer and worked solution →Spot the one that does not fitRead the answer and worked solution →Pick the right answer, quicklyRead the answer and worked solution →Which section lists the business the Reserve Bank may transact?Read the answer and worked solution →Which section lists the business the Bank may not transact?Read the answer and worked solution →Under section 19 the Bank may not allow interest on:Read the answer and worked solution →Under section 19 the Bank may not become the owner of:Read the answer and worked solution →Under section 19 the Bank may not purchase the shares of any:Read the answer and worked solution →Section 20 obliges the Bank to manage which liability of the Union?Read the answer and worked solution →Under section 21 the Central Government deposits its cash balances:Read the answer and worked solution →Government business of a State is taken up by the Bank under:Read the answer and worked solution →A scheduled bank means a bank included in which schedule?Read the answer and worked solution →Section 42 requires a scheduled bank to keep with the Bank an average:Read the answer and worked solution →Which chapter of the Act deals with credit information?Read the answer and worked solution →Section 45-IA bars a company from non-banking finance business without a:Read the answer and worked solution →Regulations under section 58 are made by the Central Board with the:Read the answer and worked solution →Which section of the Act sets out penalties?Read the answer and worked solution →Which section lets the Central Government supersede the Central Board?Read the answer and worked solution →Which section confers the sole right to issue bank notes?Read the answer and worked solution →Which section allows a note series to cease to be legal tender?Read the answer and worked solution →Which section covers the assets of the Issue Department?Read the answer and worked solution →Which section deals with obligations in respect of rupee coin?Read the answer and worked solution →

Worked practice questions

Paying a nominee on the depositor's death is treated as a valid:

  1. Disbursal
  2. Discharge
  3. Discount
  4. Disclosure
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Correct answer: B. Discharge

1. The nomination must have been made under the Act. 2. A survivorship clause has the same effect. 3. The payment is a valid discharge of the bank's liability. _Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_

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Payment on a nomination made under some other law gives the bank:

  1. No verified discharge
  2. No voluntary discharge
  3. No valid discharge
  4. No visible discharge
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Correct answer: C. No valid discharge

1. The Act sets out how nomination is to be made. 2. Other laws may allow nomination for other purposes. 3. Such a payment gives the bank no valid discharge. _Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_

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A request to transfer an account to another branch must be acted on:

  1. In a fortnight
  2. In three months
  3. In six months
  4. Immediately
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Correct answer: D. Immediately

1. The balance and the account records move together. 2. The customer is advised of the transfer. 3. It is carried out immediately on receipt. _Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_

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