Vol.(5) 2026: IBPS’ Bank Law Officer Entrance/ Promotion Exam- (1-Liners)

Date of Upload: 04.10.2026

1. In India, a licence for Banking business is required to be taken under which Act?—Banking Regulation Act, 1949.
2. A licence for Banking business is required to be taken under which Section of the Banking Regulation Act, 1949 (BRA)?—Section 22.
3. Section______of the Banking Regulation Act, 1949 (BRA) prohibits trading of goods except for realization of security for recovery of loan?—Section 8 of BRA.
4. Section 9 of the Banking Regulation Act, 1949 (BRA) deals with disposal of which kind of assets?—Non-Banking Assets.
5. Which Section of the Banking Regulation Act, 1949 (BRA) provides that no banking company shall hold any immovable property howsoever acquired, except for own use—Section 9.
6. Section 9 of the Banking Regulation Act, 1949 (BRA) provides that no banking company shall hold any immovable property howsoever acquired, except for own use, for a period exceeding________years from the acquisition thereof—7-years.
7. Under Banking Regulation Act,1949 (BRA), the threshold period of 7 years for retention of non-banking assets may be extended by _______(which Authority) for further period upto_________years—Reserve Bank of India; 5-years [Refer Section 9 of BRA]
8. The Regional Rural Banks (RRBs) were constituted under which Act?—Regional Rural Banks Act, 1976.
9. Most Private Sector Banks (including micro and small fiancé banks) are companies constituted or incorporated under Section________of the Companies Act, 1956 or 2013—Section 3. [Common Section for both the Companies Acts, 1956 and 2013]
10. True/ False: Foreign Banks are basically foreign companies—True. [Foreign companies are defined under Section 2(42) of the Companies Act, 2013]
11. Which Section of the Companies Act, 2013 mandates that the Companies Act, 2013 shall be applicable to foreign companies—Section 379.
12. All the foreign companies doing banking business in India shall be mainly governed by which Acts?—The Banking Regulation Act,1949 (BRA) and the Reserve Bank of India Act, 1935.
13. True/ False: A co-operative bank works/ conducts banking business but is established on a co-operative basis—True.
14. The history of Indian co-operative banking dates back to the enactment of which Act?—Co-operative Societies Act, 1904.
15. True/ False: The Reserve Bank of India Act, 1934 does not directly deal with the banking system except for Section 42 (Cash Reserve Ration)—True.

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