Under Section 138 of the Negotiable Instruments Act 1881, dishonour of a cheque for insufficiency of funds is an offence punishable with imprisonment up to:

1 year or fine up to Rs. 50,000

3 years or fine up to Rs. 1,00,000

2 years or fine up to twice the cheque amount

What term denotes the interest rate at which commercial banks borrow overnight liquidity from the Reserve Bank of India against approved government securities?

Marginal Standing Facility (MSF) Rate

Securities and Exchange Board of India (SEBI)

Indian Banks' Association (IBA)

National Payments Corporation of India (NPCI)

3 years or fine up to Rs. 1,00,000

2 years or fine up to twice the cheque amount

1 year or fine up to Rs. 50,000

RBI Assistant Examination

⏱ 10:00

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General Studies

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