Case Studies
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Banking Regulations and Business Laws — CAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
In a case study where a bank fails to disclose material information to a borrower, which principle of banking law is violated?
The principle of utmost good faith (uberrimae fidei) is violated, requiring full disclosure of all material facts in banking contracts.
In a case where a bank fails to follow RBI's grievance redressal mechanism, which authority can a customer approach?
Banking Ombudsman under RBI's Integrated Ombudsman Scheme.
What is the significance of the RBI's KYC Master Directions in a case where a bank opens an account without verifying customer identity?
The bank violates RBI KYC Master Directions 2016, which mandate Customer Due Diligence (CDD) before account opening to prevent money laundering and fraud.
When a bank accepts a will as proof of title to release a deceased customer's deposit, what legal document should ideally be obtained?
Succession certificate or probate of the will from a competent court.
If a bank dishonours a cheque despite sufficient funds in the account, what legal remedy is available to the customer?
The customer can file a suit for damages under the law of contracts and also complain to the Banking Ombudsman under RBI's Integrated Ombudsman Scheme 2021.
In a case where a bank's loan agreement contains an unfair term disadvantaging the borrower, which legal principle may apply?
Doctrine of unconscionability under Contract Act.
In a case where a borrower defaults and the bank invokes SARFAESI, what is the minimum NPA classification period required before action?
The account must be classified as a Non-Performing Asset (NPA) for at least 60 days before the bank can initiate action under SARFAESI Act 2002.
When a bank refuses to provide a No Objection Certificate after full loan repayment, what regulatory violation occurs?
Violation of RBI's Fair Practices Code for lenders.
Video classes for this chapter
CASE STUDY ON PRESERVANCE OF RECORDS
CASE STUDY ON PSS ACT
CASE STUDY ON NBFC
CONTROL OVER ORGANIZARION OF BANKS
Financial Sector Legislative Reforms And Financial Stability And Development Council
CREATION REGISTRATION OF CHARGES
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