Mumbai University Solved Question Papers
Law of Banking and Negotiable Instruments
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 10
May 2025 - 60/40 Examination
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BLS LLB 5 Years Sem 10 Law of Banking and Negotiable Instruments May 2025 - 60/40 Question Paper with Solutions
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First published on munotes.in on 24 October 2026.
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Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the May 2025 - 60/40 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the May 2025 - 60/40 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the May 2025 - 60/40 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 2 hours · Total marks 60 · 17 questions answered
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q.1
Q.1: Answer in not more than two sentences, attempt any six
12 Marks - 2 marks each
(1)What is Unclaimed Deposit under B.R Act 1949?[2]
Answer
Meaning. An unclaimed deposit is the balance in an account in India that has not been operated upon for ten years. It also covers any deposit or amount that has remained unclaimed for more than ten years. For a fixed deposit, the ten years run from the date the fixed period expires (section 26, proviso, Banking Regulation Act, 1949).
What the bank must do.
- Report it (section 26). Within thirty days after the close of each calendar year, every banking company sends the Reserve Bank a return of all such accounts in India.
- Transfer it (section 26A(2)). Within three months after the ten years expire, the amount is credited to the Depositor Education and Awareness Fund. The Reserve Bank has set up that Fund (section 26A(1)).
The owner keeps his claim. The depositor or any other claimant may still claim the money, or operate the account, after the ten years (proviso to section 26A(2)). The bank must repay it with interest at the rate the Reserve Bank specifies, and may then claim a refund from the Fund (section 26A(3)).
Use of the Fund. It is used to promote depositors' interests, such as depositor education (section 26A(4)). To help people find such money, the Reserve Bank launched the UDGAM portal on 17 August 2023.
Conclusion. An unclaimed deposit is money in an account untouched for ten years. The bank reports it and moves it to the Depositor Education and Awareness Fund, but the owner can always claim it back.
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