Multiple Choice Questions

c) Fixed Deposit account

d) All of above
1. We should keep our savings with
banks because
a) It is safe
b) Earns interest 8. Who is the present Governor of
c) Can be withdrawn anytime RBI?
d) All of above a) K.C. Chakrabarty
b) D K Mittal
2. Bank does not give loan against c) Raghuram Rajan
a) Gold Ornaments d) Montek Singh Ahluwalia
b) LIC policy
c) Lottery ticket 9.
d) NSC is the logo of
a) State Bank of India
3. Bank having maximum number of b) Punjab National Bank
branches in India c) Bank of Baroda
a) Reserve Bank of India d) None of above
b) State Bank of India
c) Punjab National Bank 10. Minimum age required to open SB
d) Bank of Baroda account in the bank
a) 8 years
4. 100/- Rupee note is signed by b) 10 years
a) Prime Minister c) 12 years
b) Finance Minister d) None of above
c) RBI Governor
d) None of above 11. Bank does not provide loans for
a) Crop loans
5. ATM password should be kept in b) Education loans
a) Personal diary c) Home loans
b) Office diary d) Drinking & Gambling
c) Memory
d) All of above 12. KYC means
a) Know your customer
6. ATM password to be shared only b) Know your character
with c) Both of above
a) Spouse d) None of above
b) Obedient son
c) Obedient daughter 13. Loans from money lenders are
d) None of above a) With High rate of interest
b) No proper accounting
7. Nomination can be done in c) No transparency
a) Savings Bank account d) All of above
b) Recurring Deposit account
 b) Easy and Swift
14. ATM means c) Either or Survivor
a) Any Time Money d) None of above
b) Auto Truck of Mahindra
c) Automated Teller Machine 21. Which is prohibited for writing on
d) None of above currency notes?
a) Political message
15. Timely repayment of loans results b) Religious message
a) Good reputation c) Personal message
b) No tension d) All of above
c) Easily availability of loan in
future
d) All of above
22. PPF means
16. Defaulter of loan means a) Pension Planning Funds
a) Not paying loan instalments b) Person having Pension
b) Bad reputation Facilities
c) Illegal activities c) Public Provident Fund
d) None of above d) Permanent Practitioner’s
Forum
17. Life insurance means
a) Insurance of human 23. Highest denomination of currency
b) Insurance of life of human notes issued by RBI is
and Cattle a) Rs.100/-
c) Insurance of Life of b) Rs.500/-
Machines c) Rs.1,000/-
d) All of above d) Rs.10,000/-

18. General Insurance relates to 24. NRI means

insurance against a) Non Rural Individuals
a) Fire b) Non Rural Immigrants
b) Theft c) Non Resident Indian
c) Burglary d) None of above
d) All of above
25. PAN means
19. Aadhaar is a) A kind of utensil
a) 12 digit number card b) Primary Account Number
b) Identity proof issued by c) Permanent Account Number
UIDAI d) None of above
c) Both (a) & (b)
d) None of above 26. Who is the present Chairman of
State Bank of India?
20. E or S means a) Arundhati Bhattacharya
a) East or South zone b) O.P. Bhatt
 c) Pratip Chaudhuri 33. Bank Pass Book is
d) Chanda Kochar a) Issued by Bank
b) Contains transaction details
27. Bank provides loans for of Bank account
a) Home c) Shows balance in account
b) Car d) All of above
c) Education
d) All of above 34. Banks pays interest on
a) Deposits
28. Which currency note has security b) Loans
thread? c) Both (a) & (b)
a) Rs.50/- d) None of above
b) Rs.100/-
c) Rs.500/- 35. Bank charges interest on
d) All of above a) Deposits
b) Loans
c) Both (a) & (b)
d) None of above
29. The safest place for keeping money
a) A pit dug in the ground
b) An iron box
c) Bank 36. Education Loans
d) Money lender a) Cover tuition fee & expenses
b) Are repayable after
30. Gold and silver ornaments should completion of course
be kept in bank lockers c) Granted for studies in India
a) It is safe & abroad
b) No risk of theft d) All of above
c) Both (a) & (b)
d) None of above 37. Business Correspondent means
a) An agent who provides
31. Currency notes are issued by banking services
a) RBI b) An agent of business house
b) NABARD c) A type of money lender
c) Public sector banks d) None of above
d) Central Government
38. Internet banking refers to
32. Coins are issued by a) Operation of account
a) Government of India through internet
b) NABARD b) Opening of account through
c) Public sector banks ATM
d) State Bank of India c) Both (a) & (b)
d) None of above
39. Nomination once done can c) Inter-lending within the
a) Not be cancelled group members
b) Be cancelled d) All of above
c) Not be changed
d) None of above 46. Payment of cheque can be stopped
by
40. Who can open bank account? a) Beneficiary
a) Indian citizen b) Nominee
b) Non Resident Indian c) Drawer of cheque
c) Illiterate d) All of above
d) All of above
47. Account payee cheques can be paid
41. PAN number is required for a) At cash counter of Bank
a) Deposits less than b) At ATM
Rs.50,000/- c) By deposit in Bank account
b) Deposits in excess of Rs.1 lac d) None of above
c) Deposits Rs.50,000/- &
above 48. In Recurring Deposits,
d) All transactions a) a fixed sum is deposited
every month
42. TDS means b) period of deposit is a fixed
a) Time Deposit Scheme tenure
b) Total Deposit Scheme c) interest is paid at FDR rate
c) Tax Deducted at Source d) All of above
d) None of above
49. While making nomination,
signature of nominee is required on
a) Account Opening Form
43. Maximum amount of Cheque b) Nomination form
a) Rs.100 crore c) Affidavit
b) No limit d) None of above
c) Rs.1 crore
d) None of above

44. Bank draft is issued by 50. Interest on Savings Bank Deposits is

a) Private Sector Banks paid
b) Regional Rural Banks a) Every month
c) Public Sector Banks b) Quarterly
d) All of above c) Half yearly
d) Yearly
45. Self Help Group involves
a) Group of 5 to 20 people 51. Mutilated notes
b) Regular saving habits a) should be burnt away
b) should be thrown away
 c) can be exchanged at Bank c) break open the locker after
d) None of above giving suitable notice
d) All of above
52. ATM can be used for
a) Cash withdrawal 58. MGNREGS stands for
b) Account enquiry a) Mahatma Gandhi National
c) Statement of account Rural Employment
d) All of above Generation Scheme
b) Mahatma Gandhi Nutrition
53. Upon detection of a counterfeit & Rural Employment
note at the counter, Bank Generation Scheme
a) Returns the note to the c) Mahatma Gandhi National
customer Rural Employment
b) Exchange with a genuine Guarantee Scheme
Note d) None of above
c) Deposit in Account
d) Impound the Note and issue 59. Maximum tenure of Fixed Deposit
receipt is
a) 5 years
54. Fixed Deposit can b) 7 years
a) not be withdrawn before c) 8 years
maturity d) 10 years
b) paid only after maturity
c) withdrawn before maturity 60. What is RuPay Debit Card?
d) All of above a) Domestic debit card
b) Introduced by National
55. Interest on FDRs is compounded on Payments Corporation of
a) Monthly basis India
b) Quarterly basis c) Accepted at all ATMs & PoS
c) Half yearly basis machines
d) Yearly basis d) All of above

56. Contents of locker are 61. To whom Overdraft facility of

a) only known to hirer Rs.5,000/- in PMJDY Account is
b) known to Bank available?
c) Both (a) & (b) a) After 6 months of
d) None of above satisfactory conduct of
account
b) One account per household
c) Customers in age group of
57. If locker rent is not paid, Bank can 18-60 years
a) seal the locker d) All of above
b) stop operation of locker
62. What is Direct Benefit Transfer?
 a) Cash discount on goods 67. What is the maximum amount of
b) Remittance through Banks deposits acceptable in Small accounts?
c) Transfer of social benefits / a) Rs.30,000/-
subsidies directly in Bank b) Rs.40,000/-
accounts of beneficiaries c) Rs.50,000/-
d) None of above d) None of above

63. What is meant by Aadhaar seeding? 68. What kinds of services are available
a) Linking of Aadhaar with free in ‘Basic Savings Bank Deposit
Bank account Account’?
b) Duplicate issuance of a) Receipt / credit of money
Aadhaar through NEFT / RTGS
c) Transfer of Aadhaar b) No annual maintenance
d) None of above charges on ATM-cum-Debit
card
c) 4 withdrawals in a month
(including ATM withdrawals)
64. What are the benefits attached to d) All of above
PMJDY?
a) Accident insurance cover of 69. What is the minimum deposit
Rs.1.00 lac required while opening a BSBD Account?
b) Life insurance cover of a) Rs.100/-
Rs.30,000/- b) No minimum deposit
c) Overdraft facility up to required
Rs.5,000/- c) Rs.1,000/-
d) All of above d) Rs.500/-

65. Who can open an account under 70 What is Atal Pension Yojana (APY)?
PMJDY? a) Provides social security to
a) Minor above the age of 10 the unorganized sector
years b) Encourages workers to
b) Only lady of the house voluntarily save for their retirement
c) Only head of the family c) Fixed pension is paid on
d) All of above attaining age of 60 years
d) All of above
66. Who is Bank Mitra?
a) Banking Correspondents
engaged by Banks 71. What is Pradhan Mantri Suraksha
b) Valuable customer of Bank Bima Yojana (PMSBY)?
c) Security guard in a branch a) Accidental insurance cover
d) None of above b) Life insurance cover
c) Overdraft up to Rs.5,000/-
d) None of above
72. What is Pradhan Mantri Jivan Jyoti
Bima Yojana (PMJJBY)? 78. Under APY, fixed pension can be
a) Covers life insurance up to chosen from:
Rs.2 lac a) Rs.1,000/-, Rs.2,000/-,
b) Accident insurance cover Rs.3,000/-, Rs.4,000/-, Rs.5,000/-
c) Both (a) & (b) b) Rs.2,000/-, Rs.3,000/-,
d) None of above Rs.4,000/-, Rs.5,000/-, Rs.6,000/-
c) Rs.500/-, Rs.1,000/-,
73. Which type of deposits earns higher Rs.2,000/-, Rs.3,000/-, Rs.4,000/-
interest rate? d) None of above
a) Current account
b) Savings Account 79. PMJDY LIC Insurance of Rs.30,000/-
c) Fixed Deposits is available for first time accounts
d) None of above opened a) On 15th
August 2014
74. Under PMSBY, accidental death b) On 26th January 2015
claim is available for: c) Between 15th August 2014
a) Rs.1 lac and 26th January 2015
b) Rs.2 lac d) None of above
c) Rs.3 lac
d) None of above 80. _______ are not covered under
PMJDY Life Insurance Scheme of
75. What is validity period of cheque? Rs.30,000/-
a) 4 months from date of issue a) Employees of Central / State
b) 3 months from date of issue Govt. / Public Sector
c) 1 month from date of issue Undertakings / Banks
d) Unlimited b) Income Tax Payee
c) Aam Aadmi Bima Yojana
76. Under PMSBY, partial disability beneficiaries
claim is available for: d) All of above
a) Rs.50,000/-
b) Rs.1 lac
c) Rs.2 lac
d) None of above

77. Can illiterate person be issued

Debit card?
a) No
b) Yes
c) Only in case of joint account
d) Only in case he is head of
family
 Answer Key

Q. A. Q. A. Q. A. Q. A.
1 d 21 d 41 c 61 d
2 c 22 c 42 c 62 c
3 b 23 c 43 b 63 a
4 c 24 c 44 d 64 d
5 c 25 c 45 d 65 d
6 d 26 a 46 c 66 a
7 d 27 d 47 c 67 c
8 c 28 d 48 d 68 d
9 a 29 c 49 d 69 b
10 b 30 c 50 c 70 d
11 d 31 a 51 c 71 a
12 a 32 a 52 d 72 a
13 d 33 d 53 d 73 c
14 c 34 a 54 c 74 b
15 d 35 b 55 b 75 b
16 a 36 d 56 a 76 b
17 a 37 a 57 d 77 b
18 d 38 a 58 c 78 a
19 c 39 b 59 d 79 c
20 c 40 d 60 d 80 d