N. S. Toor Solutions for Chapter: Banking Law and Practice, Exercise 37: TEST YOUR SELF

As per Supreme Court direction in its judgement dated April 16, 2004, the excess interest collected by banks on account of rounding of interest tax in the past is to be credited to:

A gives a mandate in favour of his wife to operate his saving bank account and asks the bank to honour all cheques drawn by her and mandate should be in force up to one month after his death and should not be treated as cancelled on his death:

A person wants to open current account with your branch and he discloses having loan account with another bank.

Mr. Sharma, a current account holder, is not conducting the account satisfactorily. Your branch decides to close the account, but the customer does not agree to the same under these circumstances:

A saving bank account or a current account is to be treated as inoperative accounts if there is no operation in the account for the last:

The banks can offer term deposits without to option of premature withdrawal, provided the amount of such deposit (held singly or jointly) is at least:

Banks are required to include option of _____ in all their forms/applications etc. prescribed by RBI or the banks themselves, wherein any gender classification is envisaged, as per RBI directions based on Supreme Court decision in National Legal Services Authority v. Union of India and others:

Banks may open current accounts of prospective customers that are availing credit facilities with other banks, if no response is received from the existing bankers to a notice sent, after a minimum waiting period of: