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01. In the case of a bearer cheque,   the identity is not necessary
02.  When an order cheque is endorsed in blank,  it becomes payable to bearer and transferable by mere delivery
03.  A cheque crossed “Not Negotiable”,  is still transferable
04.  As per section 138 of Negotiable Instruments Act, there is a provision of penalty when the cheque  issued in discharge of a liability  is dishonoured due to insufficient funds in the account and if the cheque has been presented to the bank within a period of three months and is not honoured due to insufficient funds
05. A fixed deposit receipt cannot be endorsed
06.  A cheque is presented in an account but there is no sufficient balance to meet the same. The cheque will be returned with the remarks – insufficient funds
07.  The cheque on behalf of a partnership firm can be stopped for payment by any partner whether authorized to operate the account or not
08.  The marginal farmer is one who possesses agriculture land upto 1.25 acres of irrigated land or 2.5 acres of non-irrigated land
09.  Registration of charge is not required in the case of pledge, lien, set-ff and appropriation
10.  Loans for construction of godown for own use of farmers is not part of indirect finance to agriculture
11.  Olericulture is cultivation of vegetables
12.  Agriculture labourer is a labourer whose income from agriculture is more than 50%
13.  Nostro account is an account of a bank established in India with a Foreign Bank in another country and the account is maintained in foreign currency
14. Resident Foreign Currency (RFC) account scheme is available for home returned Non resident Indians
15.  Under packing credit limit, the extent of finance is computed on the basis of Freight on Board basis
16.  Forfaiting refers to discounting of export bill without recourse to the seller
17.  In an overdraft account, when the death notice of partner is received the bank should stop the operations to avoid application of Clayton’s case
18.  A company is not dissolved by lunacy of a director or bankruptcy of a director or death of a director
19.  In the case of insolvency, the banker’s obligation to honour customer cheques comes to an end when the customer is adjudged insolvent
20.  A lien is the right to retain goods or securities belonging to a debtor until he has discharged a debt due to the retainer thereof
21.  The shareholders of a Private Limited Co cannot transfer the shares to any other individual other than the shareholders of the company
22.  The rule in Clayton’s case applies in the case of running accounts having debit balances in respect of partnership accounts
23.  The term banking has been defined by Banking Regulation act – 1949
24.  Bills drawn in respect of goods delivered by parties to various Government/Semi Government departments are known as supply bills
25.  Goiporia committee has made the recommendations – Commencement of employee working hours should be 15 minutes before commencement of business hours
26.  Banking companies are registered under – Banking Regulation act - 1949
27.  Bipartite settlements are registered under Industrial Disputes Act
28.  Financial products, whose prices are derived from the price of the underlying currency, interest rate, stocks etc are called as– securitization
29.  Revaluation reserves is a part of subsidiary capital/tier II capital
30.  The committee headed by Y V  Reddy –revised the concept of liquidity and monetary aggregates
31. Verma Committee  was appointed to examine the restructuring of weak banks
32. The process through which any member-owned organization becomes a shareholder-owned company is called demutualization
33.  Official Language deals with the following articles of constitution – 343 to 351
34.  Hindi was declared as the official language of the union on 14-09-1949
35.  The system of electronic funds transfer was suggested by the committee headed by – B D Shah
36.  INFINET  is – RBI’s VSAT based communication system
37.  The negotiable instruments act is applicable in the entire part of the country
38.  If the cheque is drawn in favour of “Mother God” or order, the cheque is to be returned with the reasons – “since drawn on fictitious name”
39.  A cheque payable to Rohit is endorsed as follows – Pay to “Kabil on his marriage”. This endorsement is conditional endorsement
40. The cheque crossed – “account payee” drawn in favour of MrBrijNand is presented by Raman in his account and in this case the bank should not make the payment
41.  The following are not negotiable instruments – airway bill, a currency note, a letter of credit and lorry receipt
42.  Under section 25 of Negotiable Instruments Act, public holidays are declared by – the respective state governments by notifications in the official gazettes
43.  Conversion means – not crediting the amount in the account of true owner
44.  By “General Crossing”,  we mean two transverse parallel lines on top left hand corner of a cheque
45.  Forward exchange contract is an agreement where the foreign exchange is delivered at predetermined future date at a contracted date
46.  Unless otherwise specified in the letter of credit, the insurance amount should be expressed in the currency of the letter of credit
47.  On the death of the partner, bank opens a new account to rule-of the existing account to avoid application of Clayton’s case
48.  Executor in banking means a person named by the deceased in his will and for which probate is obtained
49.  The partnership firm doing the banking business cannot have more than 10 partners and for other business not more than 20 partners;  otherwise it will become illegal association. It is provided in Companies act

50. Prospectus is an invitation to the public to subscribe shares or debentures or deposits

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