Professional Legal Knowledge

Detailed Professional Knowledge Syllabus of IBPS SO Law Officer 2024
This section has the highest weight age in the exam. Major sections from where questions are asked include Law and Acts with direct and Indirect Implication on the banking sector like Contract Acts, Partnerships, Companies, Firm, Constitution and other such topics like-

• RBI Functions
• Relevant laws and rulings related to negotiable instruments, securities, Foreign Exchange
• Prevention of money laundering, Limitation Act
• Bankers Book Evidence Act, DRT Act
• Offenses and Penalties
• Consumer Protection Act
• Banking Ombudsman Scheme
• RTI Act, Information Technology Act
• Banking Regulated Important Laws
• Limitation Act, 1993
• Banker’s Books Evidence Act, 1891
• The Recovery of Debts due to Banks and Financial Institutions (DRT) Act,1993
• Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002
• Miscellaneous Provisions Consumer Protection Act, 1986
• The Banking Ombudsman Scheme, 2006
• Procedure for Redressal of Grievance
• Commercial Laws with Reference to Banking Operation
• Contracts of Guarantee
• Contracts of Bailment
• Contracts of Pledge
• Contracts of Agency
• Meaning and Essentials of a Contract of Sale
• Definition, Meaning, and Nature of Partnership
• Dissolution of a Firm
• Effects of Non-Registration
• Definition and Features of Company
• Types of Companies
• Memorandum of Association and Articles of Association
• Doctrines of Ultra/Constructive Notice/Indoor Management
• Transfer of Property Act, 1882
• The Right to Information Act, 2005
• Right to Information and Obligation of Public Authorities
• Banking Regulation & Compliance and Legal Aspects
• RBI’s Constitution and Objectives
• Banking Regulation Act, 1949
• Reserve Bank of India Act, 1934
• Credit Information Bureau (India)
• Banker-Customer Relationship
• Payment and Collection of Cheques and Other Negotiable Instruments
• Types of Collaterals and their Characteristics
• Foreign Exchange Management Act,1999
• The Prevention of Money Laundering Act, 2002.
• Information Technology Act, 2000

Content Emphasis

• The main emphasis of the exam is on legal frameworks within the banking sector.
• This includes banking regulations, consumer protection acts, and laws governing banking operations.
• Aspirants are expected to demonstrate precision and accuracy in understanding various legal aspects that are crucial for banking operations.

Preparation Approach

• Preparing for IBPS SO Law Officer Mains 2024 involves a thorough understanding of the exam pattern and syllabus.
• Candidates should focus on subjects like banking regulations, consumer protection acts, and other legal frameworks in banking, as these areas are central to the exam.
• Utilizing the right study materials and practising through mock tests and previous year's papers are also key strategies while you prepare for IBPS SO Law Officer mains 2024.