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CAIIB BRBL LIVE Class 3 By Ashish Sir
What is the primary objective of the Banking Regulation Act, 1949?
The Banking Regulation Act, 1949 aims to regulate and supervise banking companies in India, ensuring sound banking practices, protection of depositors' interests, and maintaining financial stability.
What is the definition of 'Cheque' under the Negotiable Instruments Act, 1881?
A bill of exchange drawn on a specified banker payable on demand.
Under Section 5(b) of the Banking Regulation Act, what is the definition of 'banking'?
Banking is defined as the accepting of deposits of money from the public for the purpose of lending or investment, repayable on demand or otherwise, withdrawable by cheque, draft, order, or otherwise.
What is the meaning of 'Endorsement' under the Negotiable Instruments Act?
Signing on the back of instrument to transfer its title to another person.
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