Other Acts & Provisions related to Banking

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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

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

In which year was the Indian Contract Act enacted, which governs contracts in the banking sector?

1862

1872

1882

1892

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

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