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UFBU Calls Off Nationwide Bank Strike on 24th and 25th Mar 2025 After Assurances from Finance Ministry and IBA

I n a significant development on March 21, 2025, the United Forum of Bank Unions (UFBU) has decided to call off their two-day nationwide strike, which was originally planned for March 24 and 25. This decision was made after the UFBU received positive reassurances from both the Finance Ministry and the Indian Banks’ Association (IBA) regarding their key demands. The banking unions, under the umbrella body of UFBU, represent employees from nine major unions across the country, including AIBEA, AIBOC, NCBE, AIBOA, and BEFI. The unions had earlier called for the nationwide strike to protest against several ongoing issues that they believe impact the welfare and job security of bank employees. Key Issues Behind the Proposed Strike The strike was initially called by UFBU to address a range of pressing concerns, some of which have been lingering for years. The union's main demands included: Five-Day Workweek for Bank Employees:  One of the most anticipated demands was the implementation o...

JAIIB - Legal & Regulatory Aspect of Banking Sample Practice Quiz

SAMPLE PRACTICE 1
1. Up to What period banker's lien can be exercised?
a) 1  years
b) 2 years
c) 5 years
d) None of These

Ans. None of These

2. Bank has to maintain CRR (Cash Reserve Ratio) with RBI based on daily average  balance. Average is calculate for which period?
a) Year
b) Month
c) Week
d) None of These

Ans. Month

3. Suit can be filed for foreclosure of mortgage within
a) 30 yrs
b) 20 yrs
c) 10 yrs
d) No defined period

Ans. 30 yrs

4. Within which period, Cheque can be presented u/s 138 of Negotiable Instrument Act
a) During Validity Period
b) Maximum within 6 months from Issue Date
c) Before Stop Payment Request
d) Till Bank Present and Working

Ans. During Validity Period & Maximum within 6 months from Issue Date

5. When customer keeps article for safe custody in bank then what is the relation between them?
a) bailor and bailee
b) bailee and bailor
c) agent and principle
d) beneficiary and trustee

Ans. bailor and bailee

6. Attestation of documents is required for this
a) Hypothecation Agreement
b) Pledge Agreement
c) Mortgage Deed
d) None of these documents require to be attested

Ans. Mortgage Deed

7. The charge which is created on immovable property in favour of bank is a)Assignment
b) Lien
c) Pledge
d) Mortgage

Ans. Mortgage

8. An irrevocable LC is one
a) That can be cancelled or amended with consent of beneficiary
b) That can be cancelled or amended without consent of beneficiary
c) Both are true
d) None of these

Ans. That can be cancelled or amended with consent of beneficiary

9. An IT hardware company receives materials to assemble and re-export it after assembling. Which guarantee will be issued to this firm
a) Performance Guarantee
b) Financial Guarantee
c) Deferred Payment Guarantee
d) Any of these

Ans. Performance Guarantee

10. Mr X and Mr Y have joint saving account and bank receives garnishee order in the name of Mr X.
a) Garnishee Order applicable to whole amount
b) Garnishee Order is applicable to 50% of the amount
c) Garnishee order is not applicable as account is not having same name
d) None of these

Ans. Garnishee order is not applicable as account is not having same name



SAMPLE PRACTICE 2


1. Which organization has sole authority to issue Currency Note
a) State Bank of India
b) RBI
c) Exim Bank
d) Group of Bank

Ans. RBI

2. Which one is issued by RBI
a) One Rupee Coin
b) One Rupee Note
c) Ten Rupee Coin
d) Two Rupee Note

Ans. Two Rupee Note

3. SARFAESI Act is not applicable to
a) SBI Associates
b) Regional Banks
c) Some Specific Banks are excluded
d) All banks comes under SARFAESI

Ans. Regional Banks

4. Maximum amount that Banking Ombudsman can award as compensation is
a) 50 Lakh
b) 25 Lakh
c) 10 Lakh
d) 5 Lakh

Ans. 10 Lakh

5. If case is not solve through secularization then bank can move to at next level
a) DRT
b) Court
c) Any on from above as per choice
d) None of these

Ans. DRT

6. As per Indian Contract Act (sec 182), An agent is a person employed to do an act for another or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called the principal. The relationship between them is called agency. Which one is correct in case of Minor appointed as agent?
a) Minor cannot be appointed as agent
b) Minor as an Agent is not responsible as Adult
c) Minor can be appointed as agent like adult
d) None of these

Ans. Minor as an Agent is not responsible as Adult

7. Hypothecation is defined in
a) Indian Contract Act
b) NI Act
c) Transfer of Property Act
d) SARFAESI Act

Ans. SARFAESI Act

8. ………… Mortgage is not required to be registered with registrar of Assurance a) Simple Mortgage
b) Equitable Mortgage
c) Both Above
d) None of these

Ans. Equitable Mortgage

9. What is the maximum amount case involving that can be referred to LOK Adalat
a) 5 Lakh
b) 10 Lakh
c) 20 Lakh
d) 50 Lakh

Ans. 20 Lakh

10. Which one is not a Negotiable Instrument
a) Cheque
b) Demand Draft
c) Bill of Exchange
d) Bank FDR

Ans. Bank FDR

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