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Bihar Cooperative Bank Assistant Mains
IMPORTANT
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Who among the following will sign the a/c opening form for opening a current account in case of a partnership firm where the firm has three partners and a minor, aged 17, has been admitted to the firm for benefits?

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Important Questions on Banking Law and Practice

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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 5
Which of the following cannot be a partner in a partnership firm, as per March 2011 guidelines of RBI:
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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 6
If a minor who was admitted to a partnership firm for benefits, opts to become a partner on his attaining the majority, he would become liable for the liabilities of the firm:
MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 7
Universal Bank has granted cash credit limit of Rs.10 lac to M/s Kala Traders, a partnership firm. The account is showing a debit balance of Rs.9.50 Inc when the notice is received about the insolvency of one of the partners. Which among the following steps should be initiated by the bank to safeguard its interest?
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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 8
M/S Rajat & Co, a partnership firm is maintaining a current account with your branch with operational instructions to be operated by 'any one of the partners'. A cheque signed by A is countermanded by B which he claims was, through an oversight at a later stage. Subsequently, the said partner approaches the bank to revoke the instructions of lifting the stop payment. The bank would:
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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 9
A partnership firm carries on a business of giving guarantees only and a guarantee letter has been signed by a single partner and not other partners. The guarantee will be:
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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 10
Under what circumstances, the operations in a current account of a partnership firm can be permitted if one of the partners has expired and the account has been showing credit balances:
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 11
Harish, a partner of a firm is authorised to operate the account and authorises his wife to operate the account. A bank should in this case:
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Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 12
U/s 30 of the Indian Partnership Act: