JAIIB - Legal Aspects of Banking – JAIIB

KEY to MODULES A & B and C & D

+ The candidates are suggested to attempt the questions and then refer the key.
+ Wherever applicable page nos provided for reference

Key
Module A& B
01-. (77) 02- c (66) 03- d(50-51- Award) 04 – b (49 – inordinate delay) 05 – d (43)
06 – a (42) 07 – c (42) 08 – c (36) 09- d (32 ) 10 – b (29) 11- d (26- BR Act) 12- d (27)
13 – c (24 ) 14 – b (23 not required ) 15 – d (22 – Local Area Banks) 16 – c (WAM 12 )
17 – a (7) 18 – a (5 - Under the Non- Banking Financial Companies Acceptance of Public
Deposits (Reserve Bank ) Directions 1998. Other companies are regulated by Central
Government under the Companies (Acceptance of Public Deposit)Rules, 1975 issued
under Sec 58A of Companies Act, 1956) 19 –a (25) 20 – d (31) 21 – d (31 ) 22 – c (41)
23 – b (44) 24 – b (53 it is not above than 20% but not less than 20%) 25 – b (59) 26 – d
(62) 27 – d (68 – Foreign Banks) 28 – d (69) 29 – c ( 73) 30 – c (77) 31- b (78- Central
Government empowered and they have to consult RBI) 32 – c (82) 33- d (83 – The
provision for Preferential payment by liquidator will not apply to depositors covered by
the DICCG act ) 34 – d 87-(Moratorium ) 35 – d (87) 36 – a (95 – b- under the
Saurashtra State Banks (Amalgamation) Ordinance, 1950 . c – 5 years & eligible for
reappointment. d - RBI may direct in consultation with SBI to acquire ) 37 – d (97) 38 –
b (97 – Not by RBI but Sponsor Bank) 39 – c (100) 40 –d (103) 41 – b (120) 42 – a (121)
43- d (Exceeds Arrangement) 44 – b (128) 45 – b (134 –Only for a customer) 46 – d 47
–d 48 – c 49 – b 50 – b 51 – b 52 – a (144) 53 – d (144) 54 – d (Deferred Payment ) 55-
b 56 – d 57 – d 58 – b 59 – c 60 – d (Purchases the cheque since it is on demand
instrument ) 61 – d ( Holder in due course) 62 – d ( (Multi State Co-operative Bank) 63 –
b 64 – d 65 – a (173) 66- c (173) 67 – d (173 – by issuing bank) 68 – a (179) 69 – b (176)
70 –c 71 – b (281 – availability of name proposed) 72 – c (272) 73 – c 74- d (3 years
from the respective due dates) 75- c (256) 76 –b (253 – it is part of MA) 77-c (251) 78 –
a 79 – a 80 – a (229) 81 – b

Key
Module C & D
1- d (300) 02- a (293) 03 – d (297 – Reduced to 50% by Government of India
notification amended Sec 17 (2) of SARFAESI Act 2002) 04 – d (301- SEBI))
05- b (296 – Applicable to State of J & K also) 06 – b (301) 07 – b (303) 08 – a
(303) 09 – c 10 – b (304) 11 – d 12 – d (305 – Investors) 13 –c (306) 14 –a 15 –
d (306 – Sponsor) 16 – d (314) 17 – b (315 – not to public) 18 – c 19 – a (320
-90 days ) 20 – b 21 – b 22- c (327 -Does not contemplate) 23- d (331) 24 – d
(331) 25 – c( 331) 26 – b (331) 27 –d 28 – d (331) 29 –d 30 – c (350) 31- c
(350) 32 – b (350) 33- a (358) 34 –d ( RBI – 366) 35- c 36 –d (358 –
Arbitration and Conciliation Act 1996) 37 –d (380) 38 – c (380) 39 –c (can join)
40 – c ( 397 – can not grant liberal adjournment ) 41- d 42 – c (398) 43 – b ( 407)
44-c (405) 45 – b (409) 46 –d (412) 47 –c (415) 48 – b 49 –d ( 423) 50 –c (424)
51 –c ( 430 – 2 times) 52 – a (440) 53 –a ( 441 – it is not 50 lacs but 25 lacs and
above) 54- b(447) 55- d 56 – a 57 – b 58 – b (470) 59 – d (476) 60 – a (480 )
61 – a (488) 62 – a (490 ) 63 – b (490 - seller can only sue for damages ) 64 - a
(497) 65 – c ( 495) 66 – c ( 496 – there is no implied warranty for quality) 67 –
d(502) 68 – d ( 508 – Partnership at Will) 69 –d ( 518) 70 –c ( 523) 71 – d 72- c
73 – b (557) 74 – a ( 565 – it is not statutory right but proprietary right) 75 – a
(582) 76 – d (Simple – 591) 77 – d 78 –d (Equitable mortgage ) 79 – a (English
Mortgage) 80 – b (568) 81 –c

Vasudevan
(m) 9819500380