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DRIVE-SUMMER
2014
PROGRAM-MBADS
(SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3)
PGDBMN (SEM
1)
SUBJECT
CODE-MA0037
SUBJECT NAME-BANKING
RELATED LAWS AND PRACTICES
Q1. Refer a bill of exchange and discuss its features. Elucidate the
difference between a cheque and a bill of exchange. (Bill of exchange and its
features, Difference between cheque and bill of exchange) 5, 5
Answer:
Answer:
Bill
of exchange
A
bill of exchange is an instrument in writing containing an unconditional order,
signed by the maker, directing a certain person to pay (on demand or at a fixed
or determinable future time) a certain sum of money only to, or the order of, a
certain person or to the bearer of the instrument.
Following
are the essential elements of bill of exchange:
1. It
must be in writing.
Q2. A person deposits some jewellery with a bank as a security for a
debt. After repaying the debt, he demands the return of the jewellery. He owes
some other debts to the bank. Is he entitled to recover the jewels from the
bank?
Discuss the lien and differentiate types of lien. Explain Rule in
this case. (Lien and different types of liens, Rule in clayton’s case) 5, 5
Answer:
Lien
Lien
means a right of one person to retain possession of some goods belonging to
another until some debt or claim of the person in possession is satisfied. In
lien possession is essential and in order to create a lien the nature of
possession should be:
·
Rightful
·
Not for a particular purpose
·
Continuous
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Q3. A mortgage a certain plot of
building land to B and afterwards erects a house on the plot. For the purpose
of his security, B is entitled to the house as well as the plot. Discuss the
right of mortgager and mortgagee. (Rights of mortgager, Rights of mortgagee
Answer:
Rights of mortgagor
1.
Rights of Mortgagor to redeem - At any time after the principal
money has become due, the mortgagor has a right, on payment of the mortgage money
to require the mortgagee to deliver the mortgage deed and all documents
relating to the property which are in the possession of the mortgage.
2.
Obligation to transfer to third party instead of re-transference to mortgagor -
On
fulfillment of conditions which require the mortgagee to retransfer, the
mortgagor may require a mortgagee to assign the
Q4. Bangalore based Janalakshmi Financial Services has recently
completed a securitization transaction worth INR 250 million with IFMR Capital.
Closed on August 18th, IFMR Capital’s latest transaction Delta Pioneer IFMR
Capital 2010, is backed by 35,560 microloans originated by Janalakshmi, a
microfinance NBFC (Non-Banking Financial Company). Explain registration of
securitisation company or reconstruction company. Discuss the documents
involved in this transaction. (Securitisation registration, documents) 7, 3
Answer:
Registration
of securitisation company or reconstruction company
The
securitisation company or reconstruction company can commence or carry on
business only on complying the conditions below:
a. It
has to obtain the certification of registration in the prescribed format from
the reserve bank.
b. It
has to maintain the owned funds not less than Rs. 100 crore or such other
amount not less than 15% of total
Q5. Are digital records admitted as evidence under Banker’s book of
evidence act?
Discuss the conditions in the printout. (Banker’s book of evidence act, conditions in the printout) 5, 5
Answer:
Discuss the conditions in the printout. (Banker’s book of evidence act, conditions in the printout) 5, 5
Answer:
Banker’s
books – "Banker’s
books” include ledgers, day-books, cashbooks, account-books, and all other
books used in the ordinary business of a bank whether kept in a written form or
as printouts of data stored in a floppy, disc, tape, or any other form of
electro-magnetic data storage device. Banks keep the accounting details of
their customers in various forms like ledgers, registers, etc. These books are
required to be produced in original,
Q6. Rohit is not a customer of the bank. He is a university student.
He applies for a banker’s cheque at the extension counter of a bank. He was
refused at the first instance but the bank realized its mistake and agreed to
issue the banker’s cheque. The process took more than 4 hours. What is the
recourse available to Rohit? What type of documentary evidence can Rohit
produce? What is the procedure for redressal of grievances under Banking
ombudsman scheme? (Recourse available to Rohit, Documentary evidence, Banking
ombudsman scheme) 2, 2, 6
Answer:
Recourse available to Rohit
He
should compliant to Banking Ombudsman.
The Banking Ombudsman has the powers to deal with any other matter as may be
specified by the Reserve Bank of India from time to time. Any person who has a
grievance against a bank relating to the banking services for reasons as
detailed above, may himself or herself or through his or her authorised
representative make a complaint to the Banking Ombudsman within whose
jurisdiction the
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