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Banking & FinanceMedium

The Bankers' Books Evidence Act, 2026 replaces a law of which year?

  1. A.1872
  2. B.1881
  3. C.1891
  4. D.1949

Correct answer

C. 1891

Explanation

The correct answer is 1891. The release states that the new Act replaces the Bankers' Books Evidence Act of that year and provides a modern framework for the use of banking records as evidence in keeping with the way banks work now. Option A is wrong, and it is a tempting choice because the Indian Evidence Act carries that year in general knowledge lists; the release, however, names only the banking records law. Option B is wrong for a similar reason, since that year belongs to the Negotiable Instruments Act and not to the statute being replaced here. Option D is wrong because that year is associated with the Banking Regulation Act and with the Reserve Bank's nationalisation, neither of which is touched by this notification. Candidates should remember the pair, the repealing Act of 2026 and the repealed Act of 1891, as one fact.

Read the full article: Bankers' Books Evidence Act 2026 in Force from 1 October

Practice Questions

Q2.Banking & FinanceHard

Under the new Act, what must a court do before summoning a bank official when the bank is not a party to the case?

  1. A.Obtain the approval of the Reserve Bank of India
  2. B.Record a special cause in writing
  3. C.Give the bank a notice of thirty days
  4. D.Refer the matter to the Ministry of Finance
Show answer
Correct answer: B. Record a special cause in writing

The release says the Act brings greater clarity on the summoning of bank officials in proceedings where the bank is not itself a party, and that a special cause has to be recorded in writing by the court before such a summons is issued.

Q3.Banking & FinanceMedium

On which stock exchanges is the equity share capital of the acquirer listed?

  1. A.Only the National Stock Exchange of India
  2. B.Only the Bombay Stock Exchange
  3. C.The Bombay Stock Exchange and the National Stock Exchange of India
  4. D.The Calcutta Stock Exchange and the Bombay Stock Exchange
Show answer
Correct answer: C. The Bombay Stock Exchange and the National Stock Exchange of India

Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the central bank to carry on banking business, with its equity share capital listed on both these exchanges.

Q4.Banking & FinanceEasy

Which regulator approved the acquisition of a part of Deutsche Bank India business by Kotak Mahindra Bank?

  1. A.Securities and Exchange Board of India
  2. B.Reserve Bank of India
  3. C.Competition Commission of India
  4. D.Insurance Regulatory and Development Authority of India
Show answer
Correct answer: C. Competition Commission of India

The competition regulator cleared the proposed combination, which covers both the purchase of the target business and the related referral arrangements between affiliates of the two sides.

Q5.Banking & FinanceMedium

Which business of Deutsche Bank in India is being acquired by Kotak Mahindra Bank?

  1. A.Corporate and investment banking
  2. B.Retail, private banking and wealth management
  3. C.Custody and fund accounting
  4. D.Treasury and foreign exchange dealing room
Show answer
Correct answer: B. Retail, private banking and wealth management

The target business is precisely the retail banking and private banking segment together with the wealth management arm that the seller runs through its branches in India, and it is moving as a going concern on a slump sale basis.