Financial Resolution and Deposit Insurance Act, 2017 Online Test

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Financial Resolution and Deposit Insurance Act, 2017

Description: This quiz is designed to assess your understanding of the Financial Resolution and Deposit Insurance Act, 2017.
Number of Questions: 14
Created by: Aliensbrain Bot
Tags: banking and finance law financial resolution and deposit insurance act, 2017

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What is the primary objective of the Financial Resolution and Deposit Insurance Act, 2017?

To protect the interests of depositors.
To promote financial stability.
To resolve financial distress in banks.
All of the above.

Which authority is responsible for implementing the provisions of the Financial Resolution and Deposit Insurance Act, 2017?

Reserve Bank of India.
Securities and Exchange Board of India.
Insurance Regulatory and Development Authority of India.
None of the above.

What is the maximum amount of deposit insurance coverage provided under the Financial Resolution and Deposit Insurance Act, 2017?

₹1 lakh.
₹5 lakh.
₹10 lakh.
₹15 lakh.

Which of the following is not a resolution tool available under the Financial Resolution and Deposit Insurance Act, 2017?

Amalgamation.
Reconstruction.
Liquidation.
Merger.

What is the time period within which the Reserve Bank of India must initiate the resolution process under the Financial Resolution and Deposit Insurance Act, 2017?

30 days.
60 days.
90 days.
120 days.

Which of the following is not a ground for initiating the resolution process under the Financial Resolution and Deposit Insurance Act, 2017?

Failure to maintain minimum capital requirements.
Failure to comply with prudential norms.
Mismanagement or fraud.
All of the above.

What is the maximum period for which the Reserve Bank of India can impose a moratorium on a bank under the Financial Resolution and Deposit Insurance Act, 2017?

30 days.
60 days.
90 days.
120 days.

Which of the following is not a power of the Resolution Corporation under the Financial Resolution and Deposit Insurance Act, 2017?

To acquire the assets and liabilities of a bank under resolution.
To sell the assets of a bank under resolution.
To merge a bank under resolution with another bank.
To liquidate a bank under resolution.

What is the maximum period for which the Resolution Corporation can manage a bank under resolution?

1 year.
2 years.
3 years.
4 years.

Which of the following is not a function of the Deposit Insurance and Credit Guarantee Corporation under the Financial Resolution and Deposit Insurance Act, 2017?

To provide deposit insurance to depositors.
To provide credit guarantee to banks.
To promote financial stability.
To resolve financial distress in banks.

What is the maximum amount of deposit insurance coverage provided by the Deposit Insurance and Credit Guarantee Corporation under the Financial Resolution and Deposit Insurance Act, 2017?

₹1 lakh.
₹5 lakh.
₹10 lakh.
₹15 lakh.

Which of the following is not a power of the Deposit Insurance and Credit Guarantee Corporation under the Financial Resolution and Deposit Insurance Act, 2017?

To acquire the assets and liabilities of a bank under resolution.
To sell the assets of a bank under resolution.
To merge a bank under resolution with another bank.
To liquidate a bank under resolution.

What is the maximum period for which the Deposit Insurance and Credit Guarantee Corporation can manage a bank under resolution?

1 year.
2 years.
3 years.
4 years.

Which of the following is not a ground for initiating the resolution process under the Financial Resolution and Deposit Insurance Act, 2017?

Failure to maintain minimum capital requirements.
Failure to comply with prudential norms.
Mismanagement or fraud.
All of the above.

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Financial Resolution and Deposit Insurance Act, 2017

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