Vol.(6) 2026: IBPS’ Bank Law Officer Entrance/ Promotion Exam- (1-Liners)

Date of Upload: 08.10.2026

1. As per Banking Regulation Act, 1949 (BRA), where the Reserve Bank of India (RBI) is of opinion that the elected Chairman of a banking company is not a fit and proper person to hold such office, it may require the banking company to elect or appoint any other person as the Chairman of the Board of directors within a period of ______months from the date of receipt of such order—Two-months. [Refer Section 10-B of BRA, 1949]
2. True/ False: As per Banking Regulation Act, 1949 (BRA), in case the banking company fails to elect or appoint a suitable person as the Chairman within the period of two-months as directed by the Reserve Bank of India (RBI), the RBI may remove him and appoint a suitable person in his place and such appointed shall hold office for the residue of the period of office of the person is whose place he has been so elected or appointed—True. [Refer Section 10-B of BRA, 1949]
3. As per Banking Regulation Act, 1949 (BRA), the banking company and any person against whom an order of removal of Chairman is made by the RBI, may, within __________days from the date of communication, prefer an appeal to whom?—30 Day; Central Government of India. [Refer Section 10-B of BRA, 1949]
4. As per Banking Regulation Act, 1949 (BRA), no banking company shall pay any dividend on its shares until all its capitalised expenses (including preliminary expenses, organisation expenses, share-selling commission, brokerage, amounts of losses incurred and any other item of expenditure not represented by tangible assets) have been completely written off—True. [Refer Section 15 of BRA, 1949]
5. As per Banking Regulation Act, 1949 (BRA), every banking company incorporated in India shall create a reserve fund and shall, out of the balance of profit of each year as disclosed in the profit and loss account and before any dividend is declared, transfer to the reserve fund a sum equivalent to not less than ________ per cent. of such profit—20%. [Refer Section 17 of BRA, 1949].
6. Where any dispute relating to SARFAESI (Securitization and Reconstruction of Financial Asset and Enforcement of Security Interest) amongst the bank or financial institution or asset reconstruction company (ARC) or qualified institutional buyer (QIB), such dispute shall be settled by conciliation or arbitration as per Arbitration and Conciliation Act, 1996. It is so mandated under which Section of the SARFAESI Act, 2002—Section 11.
7. Which Chapter of the Securitization and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002 (SARFAESI Act) primarily deals with the enforcement of security interest?—Chapter III.
8. Minimum period of limitation prescribed under the Limitation Act, 1963 is_______days—10 Days. [Article 118— For leave to appear and defend a suit under summary procedure.]
9. Maximum period of limitation prescribed under the Limitation Act, 1963 is_______days—30 Years.
10. Before enactment of Sale of Goods Act, 1930 (SOGA), the matters relating to sale of goods were dealt with by which Act?—Chapter VII of the Indian Contract Act, 1872.
11. Before enactment of Indian Partnership Act, 1932, the matters relating to partnership were dealt with by which Act?—Chapter XI of the Indian Contract Act, 1872.
12. Under the Arbitration and Conciliation Act, 1996 (ACA), the number of arbitrator shall not be an even number. It is so mandated under Section_______of the ACA—Section 10.
13. Under the Arbitration and Conciliation Act, 1996 (ACA), when a person is approached in connection with his possible appointment as an arbitrator, he shall disclose in writing any circumstances, which are likely to affect his ability to devote sufficient time to the arbitration and in particular his ability to complete the entire arbitration within a period of _________ months—12-Months.
14. Under the Arbitration and Conciliation Act, 1996 (ACA), the statement of claim and defence shall be completed within a period of ______months from the date the arbitrator received notice, in writing of their appointment—6-Months.
15. Under the Arbitration and Conciliation Act, 1996 (ACA), an application for extension of period of arbitral tribunal shall be disposed-off by the Court as expeditiously as possible within a period of __________days from the date of service of notice on the opposite party—60 days. [S.29-A(9)]
16. Under the Arbitration and Conciliation Act, 1996 (ACA), the award in the matter of “international commercial arbitration” may be made as expeditiously as possible and endeavor may be made to dispose of the matter within a period of _________ months from the date of completion of pleadings—Twelve months. [Section 29A]
17. Under the Arbitration and Conciliation Act, 1996 (ACA), if the Court finds that the arbitral proceedings have been delayed for the reasons attributable to the arbitral tribunal, then, it may order reduction of fees of arbitrator(s) by not exceeding _______for each month of such delay—5%.
18. No banking company shall grant any loans or advances on the security of its own shares. This is so provided under Section______of the Banking Regulation Act, 1949 (BRA)—Section 20.
19. Under the Arbitration and Conciliation Act, 1996 (ACA), where, before the commencement of the arbitral proceedings, a Court passes an order for any interim measure, the arbitral proceedings shall be commenced within a period of ________ days from the date of such order or within such further time as the Court may determine—90-Days.
20. Under the Arbitration and Conciliation Act, 1996 (ACA), the number of arbitrator shall not be an even number. It is so mandated under Section_______of the ACA—Section 10.
21. Under the Arbitration and Conciliation Act, 1996 (ACA), when a person is approached in connection with his possible appointment as an arbitrator, he shall disclose in writing any circumstances, which are likely to affect his ability to devote sufficient time to the arbitration and in particular his ability to complete the entire arbitration within a period of _________ months—12-Months.
22. Under the Arbitration and Conciliation Act, 1996 (ACA), the statement of claim and defence shall be completed within a period of ______months from the date the arbitrator received notice, in writing of their appointment—6-Months.
23. Under the Arbitration and Conciliation Act, 1996 (ACA), an application for extension of period of arbitral tribunal shall be disposed-off by the Court as expeditiously as possible within a period of __________days from the date of service of notice on the opposite party—60 days. [S.29-A(9)]
24. Under the Arbitration and Conciliation Act, 1996 (ACA), the award in the matter of “international commercial arbitration” may be made as expeditiously as possible and endeavour may be made to dispose of the matter within a period of _________ months from the date of completion of pleadings—Twelve months. [Section 29A]
25. Under the Arbitration and Conciliation Act, 1996 (ACA), if the Court finds that the arbitral proceedings have been delayed for the reasons attributable to the arbitral tribunal, then, it may order reduction of fees of arbitrator(s) by not exceeding _______for each month of such delay—5%.

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