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    You Have Got 60% Here Indicate Usergiven Answer Light Green Color Indicates Correct Answer. Light Red Color Indicates Wrong Answer

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    moetail
    This document appears to be a report on a chapter about retail banking. It provides multiple choice questions and answers about topics related to retail banking, including types of deposit accounts, opening fixed accounts, current accounts, savings accounts, and certificates of deposit. The report indicates the user got 60% of the questions correct and provides feedback on the correct and incorrect answers.

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    You Have Got 60% Here Indicate Usergiven Answer Light Green Color Indicates Correct Answer. Light Red Color Indicates Wrong Answer

    Uploaded by

    moetail
    43 views16 pages
    This document appears to be a report on a chapter about retail banking. It provides multiple choice questions and answers about topics related to retail banking, including types of deposit accounts, opening fixed accounts, current accounts, savings accounts, and certificates of deposit. The report indicates the user got 60% of the questions correct and provides feedback on the correct and incorrect answers.

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    Original Title

    Retail Banking

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    This document appears to be a report on a chapter about retail banking. It provides multiple choice questions and answers about topics related to retail banking, including types of deposit accounts, opening fixed accounts, current accounts, savings accounts, and certificates of deposit. The report indicates the user got 60% of the questions correct and provides feedback on the correct and incorrect answers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views16 pages

    You Have Got 60% Here Indicate Usergiven Answer Light Green Color Indicates Correct Answer. Light Red Color Indicates Wrong Answer

    Uploaded by

    moetail
    This document appears to be a report on a chapter about retail banking. It provides multiple choice questions and answers about topics related to retail banking, including types of deposit accounts, opening fixed accounts, current accounts, savings accounts, and certificates of deposit. The report indicates the user got 60% of the questions correct and provides feedback on the correct and incorrect answers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 16

    Check Answer Report chap 1 retail banking

    You have got 60%


    Here

    indicate UserGiven Answer

    Light Green color Indicates Correct Answer.


    Light Red Color Indicates Wrong Answer.
    1 Retail Banking is to individuals.
    Facility
    Services
    Both above
    None
    2 New Generation banks are
    Customer Centric
    Focused
    Driven
    All above
    3 Banking has become functionally segmented in to..
    Retail Banking and corporate Banking
    Trade Finance
    Merchant Banking and Private Banking
    All above
    4 Because of enormous demand Banks have not had the time to most of their new inductees
    Train
    Absorb
    Reject
    Coordinate with
    5 To develop the retail banking in underdeveloped areas what recent action government has taken?
    Open branches
    Provide Mobile banking

    Financial inclusion
    Publicity

    Give Your Comments

    Check Answer Report chap 2 deposits account


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    Here

    indicate UserGiven Answer

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    1 The relationship between a banker and customers begins when the customer
    Opens an account
    Deposit an amount in account
    Any one above
    Both above
    2 What are the different types of deposit accounts?
    Demand deposits
    Time deposits
    Term Deposits
    Both a & b
    3 Following types of deposit are called Demand Deposit/ s.
    Current account
    Savings account
    Call Deposit
    All above
    4 A deposit received by the bank for a fixed period and which is withdrawable only after expiry of the

    Fixed deposit
    Demand deposit
    Current deposit
    Any one above

    5 Under what circumstances banks are not required to obtain prior concurrence of RBI to launch new
    Scheme is approved by Board of Directors
    Banks ensuring RBI guidelines are being followed
    Any one above
    Both above

    Give Your Comments

    Check Answer Report chap 3 opening of fixed


    accounts
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    Here

    indicate UserGiven Answer

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    Light Red Color Indicates Wrong Answer.
    1 Large number of frauds are perpetrated in banks due to..
    Fictitious names
    Irregular payment of cheques , manipulation of accounts
    Unauthorised operations in accounts
    All above
    2 An account can be opened by anyone who..
    Wish to open account
    Is forced to open
    Enter in to valid contract

    All above
    3 From whom bank considers that introduction is necessary for opening account?
    From any one
    Known person in the society
    Existing customers
    All above
    4 Introduction should be by..
    Introduction should be by..
    Respectable person of the local community
    Another banker
    Any one above

    5 RBI has advised banks to incorporate a certificate in account opening form confirming .o
    Identity
    Occupation
    Address
    All above
    6 In case of minor, whose photograph is required?
    Mother
    Father
    Guardian
    Relative
    7 Can photograph be substituted for the specimen signature? Yes or No

    8 Why bank should obtain the full and complete address of the depositor?
    To send the cheque book
    To send the birthday and other greetings
    To trace him when required

    as per RBI regulation


    9 PAN / GIR of account openers with initial deposit of Rs.and above must be obtained.
    20,000
    50,000
    100,000
    500,000
    10 What is the provision in lieu of PAN?
    Obtain declaration
    Obtain letter from neighbour
    Obtain form 60
    Seek exemption from income tax department

    Give Your Comments

    Check Answer Report chap 4 current account


    Here

    indicate UserGiven Answer

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    Light Red Color Indicates Wrong Answer.

    1 A form of deposit wherefrom withdrawals are allowed any number of times depending up on the bal
    Savings account
    Terms deposit account
    Current account
    Recurring deposit account
    2 Why current account is opened?
    For savings purpose

    To pay the amount to relatives


    Commercial and business
    To take a loan from financial institutions
    3 Who opens current account?
    Person who wants to save money
    Entity or person having commercial interest
    Person who has taken loan
    Person having social interest
    4 What is important for bank to open a current account?
    Identity
    Occupation
    Address
    All above
    5 Current account can be opened with operation instructions as
    Singly
    Joint
    Either or survivor
    Any one of the above

    6 If current account customer demand for large number of cheque books will it be obligatory on the pa

    7 On receipt of notice of assignment of the credit balance in the account of customer to third party wh
    Allow operations on request
    Stop operation in account
    all above
    8 Whether interest can be paid on the balances in the current account? Yes or No

    9 Whether in banks are permitted to pay the interest on the balances maintained with them in the acco
    Permitted
    Not permitted
    none of the above
    10 What is dormant account?
    No customer initiation transaction for 6 months
    No customer initiation transaction for 1 year
    No customer initiation transaction for 2 year
    No customer initiation transaction for 3 year

    Give Your Comments

    Check Answer Report chap 5 saving account


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    1 A deposit account which is subject to restrictions as to the number of withdrawals as also the amoun
    Savings account
    Current account
    Recurring deposit account
    Fixed deposit account

    2 With regards to those who intend to keep balances not exceeding Rsin all their accounts taken to
    account.
    10,000
    25,000
    50,000
    100,000

    3 The RBI has also asked banks to make available a ..either with nil or very low minimu

    Ordinary savings bank account


    Basic no frill account
    Special savings bank account
    No balance account

    4 The states that no overdraft on regular basis should be permitted in a savings ban
    Reserve Bank of India
    Indian Banks association
    Government of India
    Bank policy

    5 Additional interest of percent per annum is payable to Staff of the bank maintaining saving a

    6 At the time of opening the account, bank must advise customers of requirement of maintaining min

    7 Operations in the account should not be stopped even though bank receives the notice of death of cu

    8 Companies governed by companies act 1956 which have been licensed by central government under
    Limited
    Private Limited
    Public limited
    Any one above
    9 Whether facilities provided under financial inclusion are chargeable by bank?....Yes or No

    10 Holders of Basic Savings Bank Deposit account will be .for opening any other savings b
    Eligible
    Not eligible
    all the above

    Give Your Comments

    Check Answer Report

    You have got 50%


    Here

    indicate UserGiven Answer

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    Light Red Color Indicates Wrong Answer.
    1 Minimum period of fixed deposit is .
    7days
    30 days
    365 days
    120 months
    2 Maximum period of the fixed deposit is
    7days
    30 days
    365 days
    120 months

    3 On deposit less that ..months or where the quarter is incomplete, interest should be paid on th

    4 What is the minimum amount of interest payable on fixed deposit account?

    5 What is the amount less than which Scheduled banks are permitted to give, at their discretion an add
    Rs. 15 Crs
    Rs. 20 Crs
    Rs. 25 Crs
    Rs.30 Crs

    6 Tax need not be collected if depositor files form .or certificate under section 197 (1) of the
    15 H
    15 G
    Any one above
    Both above
    7 Under what circumstances interest is not paid on pre mature closure of fixed deposit?
    If requested by depositor
    As per banks policy
    Provided minimum period prescribed is not completed
    Any one above
    8 Deposit may be renewed before maturity provided
    It is renewed before the date of maturity
    The period of renewal is longer than remaining period of the original deposit
    Any one above
    Both above

    9 If the deposit matures on Sunday/ Holiday / Non working day the bank should interest at the origina
    Day of maturity

    Preceding day
    Succeeding day
    Any day

    10 Deposit can be renewed, provided the depositor approaches the bank ..from the date of matu
    Within 14 days
    After 14 days
    Between 14 days

    Give Your Comments

    Check Answer Report

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    1 Certificates can be issued by scheduled commercial bank and select all India Financial institutions th
    Raise short term resources
    Raise long term resources
    Any one above
    Both above
    2 Is there any for issuance of CD by banks? Yes or No

    3 What is the minimum amount for issuance of Certificate of Deposit?


    1 lack
    3 lacs

    5 lacs
    10 lacs
    4 Whether NRI can subscribe for Certificate of Deposit? Yes or No
    Yes
    No
    Yes , On reptriable basis
    Yes, only on non reptriable basis

    5 Certificate of deposit in physical form are freely transferable by endorsement and delivery
    True
    False

    6 If the maturity date of certificate of deposit happens to be holiday, the issuing bank / FI should make
    Date of maturity only
    Immediate preceding working day
    Immediate succeeding working day

    7 In case of loss of physical certificate of deposit, duplicate certificates can be issued after compliance o
    Giving notice in local news paper
    15 days after notice issued in local news paper
    Execution of indemnity bond by investor
    All above

    Give Your Comments

    Check Answer Report

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    1 Whether association, trust, societies can be nominated by individuals? Yes or No
    Yes
    No
    2 How many nominees can be appointed in case of joint accounts?
    1
    2
    As per wish of depositors
    As advised by bank
    3 In case of joint account at what point of time nominees right arises?
    When deposit matures
    After the death of one depositor
    After death of all depositors
    In case of dispute
    4 Amust register in its books nomination, cancellation and variation.
    Depositor
    Account holder
    Bank
    Any one above
    5 If customer refuses to nominate what Bank should do?
    Obtain letter
    Bank should explain the advantages of nomination
    If declines, noting on the account opening form
    All above
    6 Is the nomination facility available for savings account opened for credit of pension? Yes or No
    Yes
    No

    Give Your Comments

    Check Answer Report

    Here

    indicate UserGiven Answer

    Light Green color Indicates Correct Answer.


    Light Red Color Indicates Wrong Answer.
    1 What is unclaimed deposit?

    2 List of accounts which are not operated since last 10 years are required to be reported to RBI within
    7 days
    15 days
    30 days
    45 days
    3 When account should be considered as inoperative account?
    No transaction for 2 years after the date of last transaction
    2 years after the date of opening the account
    all above

    4 Regarding the matured fixed deposit the amount unclaimed with the bank will attractrat
    Prevailing as on the date of claim
    Savings bank deposit
    Contracted
    As per negotiation

    Give Your Comments

    Check Answer Report

    Here

    indicate UserGiven Answer

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    1 When depositor has utilised nomination facility an made valid nomination or where the account was
    deceased deposit account holder represents a valid discharge if
    Submitted the valid documentary evidence
    No court order
    Made clear to survivor that he is acting as trustee of legal heirs
    All above
    2 Whether premature termination is allowed in the event of death of the depositor... .......Yes or No

    3 Can penal charges be levied for premature withdrawal of deceased depositors deposit? Yes o

    4 In the case of NRE deposit when claimants are residents the deposit on maturity should be treated as
    NRE Deposit
    Resident deposit
    all above

    5 Bank should settle the claim and release the payment within .days from receiving the clai

    Give Your Comments

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