Check Answer Report chap 1 retail banking

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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

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Check Answer Report chap 2 deposits account

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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

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Check Answer Report chap 3 opening of fixed

accounts
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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

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Check Answer Report chap 4 current account

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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

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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

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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

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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

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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

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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

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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

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