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Question 1Introduction to Banking and Financial Systems
भारतीय रिज़र्व बैंक (RBI) की स्थापना किस वर्ष हुई थी और उसका मुख्यालय कहाँ है?
- 1935 में, मुंबई Correct answer.
- 1969 में, चेन्नई
- 1949 में, नई दिल्ली
- 1955 में, कोलकाता
Explanation
RBI की स्थापना RBI Act, 1934 के अंतर्गत 1 अप्रैल 1935 को हुई और इसका केंद्रीय कार्यालय मुंबई में है। राष्ट्रीयकरण 1949 में हुआ था, परंतु स्थापना वर्ष 1935 है। यह भारत का केंद्रीय बैंक है जो मुद्रा जारी करता है और बैंकिंग को नियंत्रित करता है।
Question 2Introduction to Banking and Financial Systems
बैंक में 'बचत बैंक खाता' खोलने का मुख्य उद्देश्य क्या होता है?
- दैनिक व्यापारिक लेन-देन के लिए चेक सुविधा
- बड़ी राशि का दीर्घकालिक निवेश और ऋण सुविधा
- छोटी बचत को सुरक्षित रखकर ब्याज अर्जित करना Correct answer.
- विदेशी मुद्रा में व्यापार करना
Explanation
बचत बैंक खाता व्यक्तियों की छोटी-छोटी बचत को सुरक्षित रखने और उस पर ब्याज देने के लिए बनाया गया है। इसमें निकासी की सीमाएँ होती हैं और यह मुख्यतः व्यक्तिगत बचत के लिए उपयुक्त है। चालू खाता व्यापारिक लेन-देन के लिए होता है।
Question 3Introduction to Banking and Financial Systems
भारत में बैंकों द्वारा जमा पर दिए जाने वाले ब्याज दरों को मुख्य रूप से कौन नियंत्रित करता है?
- भारतीय रिज़र्व बैंक (RBI) Correct answer.
- बीमा नियामक और विकास प्राधिकरण (IRDAI)
- भारतीय प्रतिभूति और विनिमय बोर्ड (SEBI)
- भारतीय लेखा परीक्षा विभाग
Explanation
भारतीय रिज़र्व बैंक बैंकिंग क्षेत्र का नियामक है और जमा एवं ऋण ब्याज दरों से संबंधित नीतियाँ तय करता है। SEBI प्रतिभूति बाजार का और IRDAI बीमा क्षेत्र का नियामक है। इसलिए बैंक जमा दरों का नियंत्रण RBI के पास है।
Question 4Introduction to Banking and Financial Systems
'KYC' का बैंकिंग में क्या अर्थ है?
- Key Yield Certificate
- Knowledge of Yearly Credit
- Keep Your Cash
- Know Your Customer Correct answer.
Explanation
KYC का अर्थ 'Know Your Customer' है, अर्थात ग्राहक की पहचान और पृष्ठभूमि की जाँच। यह मनी लॉन्ड्रिंग और आतंकवादी वित्तपोषण को रोकने के लिए अनिवार्य है। बैंक खाता खोलने से पहले ग्राहक की पहचान और पते का सत्यापन किया जाता है।
Question 5Introduction to Banking and Financial Systems
किस प्रकार के बैंक भारत में मुख्य रूप से कृषि और ग्रामीण विकास के लिए दीर्घकालिक ऋण प्रदान करते हैं?
- राष्ट्रीय कृषि और ग्रामीण विकास बैंक (NABARD) Correct answer.
- क्षेत्रीय ग्रामीण बैंक
- भुगतान बैंक
- भारतीय लघु उद्योग विकास बैंक
Explanation
NABARD कृषि और ग्रामीण क्षेत्र के लिए शीर्ष वित्तीय संस्थान है और दीर्घकालिक पुनर्वित्त प्रदान करता है। यह ग्रामीण बैंकों और सहकारी संस्थाओं को सहायता देता है। क्षेत्रीय ग्रामीण बैंक भी ग्रामीण क्षेत्र में काम करते हैं, लेकिन शीर्ष दीर्घकालिक निकाय NABARD है।
Question 6Introduction to Banking and Financial Systems
बैंक में 'सावधि जमा' (Fixed Deposit) की मुख्य विशेषता क्या है?
- इस पर ब्याज नहीं मिलता और यह चालू खाते जैसा होता है
- इसमें किसी भी समय असीमित निकासी की सुविधा होती है
- इसे केवल व्यवसायी ही खोल सकते हैं
- निश्चित अवधि के लिए जमा राशि पर तय ब्याज मिलता है Correct answer.
Explanation
सावधि जमा में राशि एक निश्चित अवधि के लिए जमा की जाती है और उस पर पूर्व-निर्धारित ब्याज दर मिलती है। समय से पहले निकासी पर सामान्यतः दंड लगता है। यह बचत खाते से अधिक ब्याज देती है क्योंकि राशि तय अवधि तक बैंक के पास रहती है।
Question 7Introduction to Banking and Financial Systems
एक ग्राहक बैंक में 50,000 रुपये जमा करता है और बैंक उस राशि का एक भाग ऋण के रूप में देता है। बैंकिंग में इस प्रक्रिया को क्या कहा जाता है?
- तरलता संकट
- साख सृजन Correct answer.
- पूँजी पर्याप्तता
- मुद्रा अवमूल्यन
Explanation
जमा के आधार पर बैंक जब ऋण देता है तो नई जमा और भुगतान क्षमता उत्पन्न होती है, जिसे साख सृजन (credit creation) कहते हैं। बैंक आंशिक आरक्षित अनुपात रखकर शेष राशि उधार देता है। इससे अर्थव्यवस्था में मुद्रा की आपूर्ति बढ़ती है।
Question 8Introduction to Banking and Financial Systems
बैंक की संपत्ति और देनदारियों के बीच समय-अंतराल के जोखिम को किस शब्द से जाना जाता है?
- साख जोखिम
- परिचालन जोखिम
- तरलता जोखिम Correct answer.
- बाजार जोखिम
Explanation
जब बैंक की देनदारियाँ (जैसे अल्पकालिक जमा) और संपत्तियाँ (जैसे दीर्घकालिक ऋण) समय में मेल नहीं खातीं, तो नकदी जुटाने की कठिनाई हो सकती है; इसे तरलता जोखिम कहते हैं। यह बैंक के भुगतान दायित्वों को प्रभावित करता है। इसलिए परिसंपत्ति-दायित्व प्रबंधन आवश्यक है।
Question 9Introduction to Banking and Financial Systems
एक ग्राहक ने बैंक में चेक जमा किया और बैंक ने उसे तुरंत भुगतान योग्य राशि के रूप में दिखाया, परंतु वसूली बाद में हुई। बैंक द्वारा ऐसी राशि को क्या कहा जाता है?
- अग्रिम भुगतान
- संग्रहण में चेक Correct answer.
- अनर्जित ब्याज
- आरक्षित पूँजी
Explanation
जब ग्राहक चेक जमा करता है और उसकी वसूली अन्य बैंक से होनी होती है, तो उसे 'चेक इन कलेक्शन' या संग्रहण में चेक कहा जाता है। बैंक ग्राहक के खाते में सशर्त श्रेय देता है और वसूली होने पर ही राशि उपलब्ध होती है। इससे बैंक अन्य बैंक पर भरोसे का जोखिम नहीं उठाता।
Question 10Introduction to Banking and Financial Systems
बैंक द्वारा ग्राहक को दी गई ऋण सीमा जिसे वह आवश्यकता अनुसार कई बार आहरित कर सकता है, क्या कहलाती है?
- ओवरड्राफ्ट
- नकद साख सीमा Correct answer.
- व्यक्तिगत जमा
- सावधि ऋण
Explanation
नकद साख सीमा (cash credit) में बैंक ग्राहक को एक निर्धारित सीमा तक बार-बार राशि आहरित करने की सुविधा देता है। यह मुख्यतः कार्यशील पूँजी की आवश्यकता के लिए दी जाती है और ब्याज आहरित राशि पर लगता है। सावधि ऋण एक बार में दी गई राशि होती है।
Question 11Introduction to Banking and Financial Systems
बैंक की कुल जमा के सापेक्ष नकद और अन्य तरल परिसंपत्तियों को रखने की नियामकीय आवश्यकता को क्या कहा जाता है?
- सीमांत आवश्यकता
- पूँजी पर्याप्तता अनुपात
- प्राथमिकता क्षेत्र ऋण
- सांविधिक तरलता अनुपात Correct answer.
Explanation
सांविधिक तरलता अनुपात (SLR) बैंक को कुल माँग और सावधि देनदारियों का एक निश्चित भाग सरकारी प्रतिभूतियों या अन्य तरल संपत्तियों में रखने के लिए बाध्य करता है। यह बैंक की भुगतान क्षमता सुनिश्चित करने और सरकारी उधार को सहारा देने के लिए है। इसे RBI निर्धारित करता है।
Question 12Introduction to Banking and Financial Systems
बैंक में 'NEFT' प्रणाली का मुख्य कार्य क्या है?
- एक बैंक खाते से दूसरे बैंक खाते में धन अंतरण Correct answer.
- विदेशी मुद्रा विनिमय दर निर्धारित करना
- बैंकों के बीच दैनिक निपटान के लिए बड़ी राशि का भुगतान
- चेक की छपाई और वितरण
Explanation
NEFT (National Electronic Funds Transfer) एक इलेक्ट्रॉनिक निधि अंतरण प्रणाली है जिससे एक बैंक शाखा के खाते से किसी अन्य बैंक शाखा के खाते में राशि भेजी जाती है। यह RBI द्वारा संचालित होती है और बैचों में निपटान करती है। बड़ी राशि के तत्काल निपटान के लिए RTGS का उपयोग होता है।
Question 13Introduction to Banking and Financial Systems
ग्राहक द्वारा जारी किए गए ऐसे आदेश को क्या कहते हैं जिसमें बैंक को किसी तीसरे व्यक्ति को निश्चित राशि देने का निर्देश होता है?
- वचन पत्र
- विनिमय पत्र
- चेक Correct answer.
- बैंक ड्राफ्ट
Explanation
चेक एक परक्राम्य लिखत है जिसमें जमाकर्ता अपने बैंक को निर्देश देता है कि वह चेकधारक या आदेशित व्यक्ति को निश्चित राशि का भुगतान करे। चेक के लिए जमाकर्ता का बैंक में खाता होना आवश्यक है। यह माँग पर देय होता है।
Question 14Introduction to Banking and Financial Systems
बैंक ग्राहकों को 'ATM' सुविधा का मुख्य लाभ क्या है?
- विदेशी मुद्रा में निवेश
- ऋण पर ब्याज दर में छूट
- बैंक शाखा के समय के बाहर भी नकद निकासी Correct answer.
- चेक की वैधता अवधि बढ़ाना
Explanation
ATM (Automated Teller Machine) ग्राहक को बैंकिंग घंटों के बाहर भी नकद निकासी, शेष जानकारी और कुछ अन्य सेवाएँ देने की सुविधा देता है। यह स्वयं-सेवा माध्यम है जिससे शाखा पर भीड़ कम होती है। इसका संबंध ऋण ब्याज या चेक वैधता से नहीं है।
Question 15Introduction to Banking and Financial Systems
एक व्यक्ति अपने चालू खाते में 10,000 रुपये जमा करता है और बैंक उसी दिन उस राशि का उपयोग अल्पकालिक ऋण देने में करता है। इससे बैंक की कौन-सी विशेषता स्पष्ट होती है?
- बैंक जमा को तरल देनदारी मानकर उसका पुनर्निवेश करता है Correct answer.
- बैंक जमा की तुलना में अधिक पूँजी रखता है
- बैंक केवल दीर्घकालिक जमा स्वीकार करता है
- बैंक जमा पर ब्याज नहीं देता
Explanation
बैंक जमा को अपनी देनदारी मानता है और उसे तरल रखते हुए ऋण के रूप में पुनर्निवेश करता है। चालू खाता जमा माँग पर देय होती है, इसलिए बैंक को कुछ तरलता बनाए रखनी पड़ती है। इसी आधार पर बैंक वित्तीय मध्यस्थता करता है।
Question 16Introduction to Banking and Financial Systems
बैंक द्वारा ग्राहक की संपत्ति को ऋण के लिए सुरक्षा के रूप में रखना क्या कहलाता है?
- प्रतिभूति Correct answer.
- प्रतिनिधित्व
- प्रतिफल
- प्रत्याभूति
Explanation
ऋण के लिए रखी गई संपत्ति या सुरक्षा को प्रतिभूति (security) कहा जाता है, जिसे बैंक ऋण न चुकाने पर वसूल कर सकता है। प्रत्याभूति में कोई तीसरा व्यक्ति भुगतान का आश्वासन देता है, जो संपत्ति रखने से भिन्न है। इसलिए सुरक्षा के रूप में रखी संपत्ति प्रतिभूति है।
Question 17Introduction to Banking and Financial Systems
मुद्रास्फीति के उच्च स्तर पर RBI की मौद्रिक नीति सामान्यतः क्या करती है?
- आरक्षित अनुपात शून्य कर देती है
- बैंकों को असीमित ऋण देने के लिए प्रोत्साहित करती है
- ब्याज दरें घटाकर माँग बढ़ाती है
- ब्याज दरें बढ़ाकर माँग और मुद्रा आपूर्ति नियंत्रित करती है Correct answer.
Explanation
मुद्रास्फीति नियंत्रित करने के लिए RBI आमतौर पर नीतिगत ब्याज दरें बढ़ाता है, जिससे उधार महँगा होता है और माँग कम होती है। यह मुद्रा आपूर्ति को भी संकुचित करता है। इसके विपरीत मंदी में दरें घटाई जाती हैं।
Question 18Introduction to Banking and Financial Systems
बैंक के 'परिसंपत्ति-दायित्व प्रबंधन' में देनदारियों की प्रोफ़ाइल के साथ संपत्तियों का मिलान करना क्यों आवश्यक है?
- केवल कर देनदारी बढ़ाने के लिए
- ब्याज दर और तरलता जोखिम को कम करने के लिए Correct answer.
- शाखा की संख्या बढ़ाने के लिए
- ग्राहकों को अधिक कर्मचारी देने के लिए
Explanation
परिसंपत्ति-दायित्व प्रबंधन का उद्देश्य संपत्तियों और देनदारियों की अवधि और ब्याज दर संरचना का मिलान करना है, जिससे ब्याज दर और तरलता जोखिम कम हो। यदि अल्पकालिक जमा से दीर्घकालिक ऋण दिया जाए तो दर बदलने पर हानि हो सकती है। इसलिए मिलान जोखिम प्रबंधन का मूल है।
Question 19Introduction to Banking and Financial Systems
एक बैंक के पास 100 करोड़ रुपये जमा और 90 करोड़ रुपये ऋण हैं; ऋण में से 5 करोड़ रुपये अशोध्य हो जाते हैं। इस स्थिति का बैंक की पूँजी पर क्या प्रभाव पड़ेगा?
- अशोध्य ऋण के कारण पूँजी घटेगी Correct answer.
- पूँजी पर कोई प्रभाव नहीं पड़ेगा
- पूँजी स्वतः बढ़ जाएगी
- जमा बढ़ने से पूँजी घटेगी
Explanation
अशोध्य ऋण (NPA) के लिए बैंक को पर्याप्त प्रावधान करना पड़ता है, जिससे लाभ और पूँजी कम होती है। 5 करोड़ रुपये की वसूली न होने से हानि होती है जो पूँजी से समायोजित होती है। इसलिए ऋण गुणवत्ता सीधे बैंक की पूँजी को प्रभावित करती है।
Question 20Introduction to Banking and Financial Systems
बैंक जब अपने ऋण पोर्टफोलियो में जोखिम फैलाने के लिए विभिन्न क्षेत्रों और उधारकर्ताओं में ऋण बाँटता है, तो इसका मुख्य उद्देश्य क्या है?
- एक ही उधारकर्ता पर सांद्रता जोखिम कम करना Correct answer.
- नियामकीय पूँजी आवश्यकता समाप्त करना
- ब्याज दर को शून्य करना
- जमा की संख्या कम करना
Explanation
ऋण विविधीकरण से किसी एक उधारकर्ता या क्षेत्र पर निर्भरता घटती है और डिफ़ॉल्ट का प्रभाव सीमित होता है। यह सांद्रता जोखिम (concentration risk) को कम करने की रणनीति है। हालाँकि विविधीकरण सभी जोखिम समाप्त नहीं करता, पर पोर्टफोलियो को स्थिर बनाता है।
Question 21Banking Operations and Types of Accounts
In Indian banking practice, a savings bank account is primarily designed for which purpose?
- Offering overdraft facilities to traders against stock
- Handling large-volume cheque clearing for companies
- Encouraging small, regular deposits by individuals while restricting the number of withdrawals Correct answer.
- Providing unlimited cash withdrawal facilities to business firms
Explanation
A savings account is meant to promote thrift among individuals by allowing small deposits, and banks place limits on withdrawals and cash transactions. Business and high-volume needs are served by current accounts instead.
Question 22Banking Operations and Types of Accounts
A current account differs from a savings account mainly because it:
- Cannot be operated through a cheque book
- Earns a higher rate of interest on the balance
- Is opened only by salaried employees
- Carries no restriction on the number and amount of withdrawals and generally pays no interest Correct answer.
Explanation
Current accounts are opened for business convenience and permit unrestricted deposits and withdrawals, so banks do not pay interest on them. Savings accounts, by contrast, carry withdrawal limits and earn interest.
Question 23Banking Operations and Types of Accounts
A fixed deposit receipt is generally not transferable. What does this mean for the depositor?
- The interest rate remains fixed for the entire tenure
- The bank can transfer the deposit to another branch without consent
- The deposit amount can be gifted to any person without bank formality
- The depositor cannot assign the deposit to a third party by simple endorsement Correct answer.
Explanation
A fixed deposit is a contract between the bank and the named depositor, so the receipt cannot be transferred to another person by endorsement the way a cheque can. The bank pays only the depositor or the legal nominee/claimant.
Question 24Banking Operations and Types of Accounts
Under the rules applicable to individual bank deposits, which type of account is operated jointly by two or more persons where the bank pays the balance to the survivor on the death of one holder?
- Joint account with survivorship mandate Correct answer.
- Trust account
- Minor account
- Escrow account
Explanation
In a joint account with a survivorship clause, the balance is paid to the surviving holder(s) on the death of one, avoiding probate. This mandate must be expressly recorded in the account opening form.
Question 25Banking Operations and Types of Accounts
A person wants to open an account in the name of a minor aged 10 years. Which arrangement is permissible under RBI guidelines?
- The account can be opened only after the minor attains 18 years
- The minor can operate the account independently without any guardian
- The account must be opened and operated by a natural or legal guardian until the minor attains majority Correct answer.
- The minor must furnish a PAN card and operate the account alone
Explanation
Banks allow accounts for minors, but until the minor attains majority the account is operated by a natural guardian or a guardian appointed by court. On attaining majority the minor must furnish fresh KYC and may operate the account independently.
Question 26Banking Operations and Types of Accounts
Which of the following best describes a recurring deposit account?
- A deposit where a fixed amount is deposited at regular intervals for a fixed period Correct answer.
- A deposit held in foreign currency for exporters
- A deposit that can be withdrawn any number of times without notice
- A lump-sum deposit for a fixed term with interest paid at maturity
Explanation
A recurring deposit requires the depositor to pay a fixed instalment every month (or other agreed interval) for a fixed tenure, and the accumulated amount with interest is repaid at maturity. It builds savings discipline similar to a fixed deposit.
Question 27Banking Operations and Types of Accounts
A customer has a savings account and also wants overdraft protection for emergencies. Which facility is commonly sanctioned against a fixed deposit?
- A locker facility without rent
- A second savings account with higher interest
- A demand loan or overdraft up to a percentage of the deposit value Correct answer.
- An interest-free credit card
Explanation
Banks commonly sanction a loan or overdraft against a fixed deposit, usually up to 75–90 per cent of the deposit value, with the deposit pledged as security. This gives liquidity without breaking the deposit prematurely.
Question 28Banking Operations and Types of Accounts
What is the key feature of a NOSTRO account maintained by an Indian bank?
- An account held by the RBI for the Government of India
- An account maintained by a customer for foreign remittances
- An account held by an Indian bank with a foreign correspondent bank in the foreign currency Correct answer.
- An account held by a foreign bank with an Indian bank in rupees
Explanation
A NOSTRO account is an account that our bank maintains with a foreign correspondent bank in that country's currency. It is used to settle foreign exchange transactions and is the mirror image of a VOSTRO account.
Question 29Banking Operations and Types of Accounts
A VOSTRO account is best described as:
- An account maintained by a foreign bank with an Indian bank in Indian rupees Correct answer.
- A special account opened by exporters to park foreign currency
- An account maintained by the RBI with the IMF
- An account maintained by an Indian bank abroad in foreign currency
Explanation
A VOSTRO account is a rupee account held by a foreign correspondent bank with an Indian bank. From the Indian bank's perspective it is a NOSTRO account held by the foreign bank; the terms are reciprocal.
Question 30Banking Operations and Types of Accounts
An exporter wants to retain a portion of foreign currency earnings in a foreign currency account with an authorised dealer. Which account is designed for this purpose?
- Savings bank account in rupees
- Exchange Earners' Foreign Currency (EEFC) account Correct answer.
- Non-Resident External (NRE) account
- Foreign Currency Non-Resident (FCNR) account
Explanation
An EEFC account allows eligible exporters to retain a prescribed percentage of their foreign exchange earnings in foreign currency with an authorised dealer. The funds can be used for permitted current account transactions.
Question 31Banking Operations and Types of Accounts
Which of the following accounts is opened by a non-resident Indian in Indian rupees where both principal and interest are fully repatriable?
- Non-Resident External (NRE) account Correct answer.
- Resident savings account
- EEFC account
- Non-Resident Ordinary (NRO) account
Explanation
An NRE account is a rupee account funded by foreign remittances and is fully repatriable in foreign currency, including interest. NRO accounts, by contrast, hold Indian-source income and have restricted repatriation.
Question 32Banking Operations and Types of Accounts
A non-resident Indian receives rental income from a property in India and wants to deposit it in an Indian bank. Which account is appropriate?
- FCNR account
- NRO account Correct answer.
- EEFC account
- NRE account
Explanation
Income earned in India such as rent, dividends or pension must be credited to a Non-Resident Ordinary (NRO) account, which is a rupee account for Indian-source income. NRE accounts can receive only foreign remittances.
Question 33Banking Operations and Types of Accounts
An FCNR (B) deposit is different from an NRE deposit chiefly because:
- FCNR deposits are maintained in foreign currency while NRE deposits are maintained in Indian rupees Correct answer.
- FCNR deposits earn no interest
- FCNR deposits can be opened only by companies
- FCNR deposits are available to residents while NRE deposits are for non-residents
Explanation
FCNR (B) deposits are term deposits held in a designated foreign currency, protecting the depositor from exchange rate risk on principal and interest. NRE deposits are rupee-denominated accounts for non-residents.
Question 34Banking Operations and Types of Accounts
What is the primary purpose of a 'Basic Savings Bank Deposit Account' (BSBDA) under RBI guidelines?
- To provide overdraft facilities to traders
- To allow unlimited foreign remittances
- To provide a basic savings account without any minimum balance requirement and with limited free facilities Correct answer.
- To offer premium banking services with a high minimum balance
Explanation
A BSBDA is a no-frills savings account that does not require a minimum balance and offers a limited set of free facilities. It is intended to promote financial inclusion among low-income customers.
Question 35Banking Operations and Types of Accounts
A customer deposits a cheque into a savings account and the cheque is returned unpaid for insufficient funds. What is the correct term for this event and its immediate effect?
- Endorsement; the cheque is paid to a third party
- Clearing; the amount is credited provisionally
- Dishonour of cheque; the amount is reversed and the customer is informed Correct answer.
- Stop payment; the cheque is held indefinitely
Explanation
When a cheque is returned unpaid by the drawee bank, it is called dishonour, and the collecting bank reverses the provisional credit given earlier. The customer's account is debited back and charges may apply.
Question 36Banking Operations and Types of Accounts
In a bank account, what does 'KYC' primarily refer to?
- A type of fixed deposit scheme
- A cheque clearing arrangement between banks
- The process of identifying and verifying a customer before opening an account Correct answer.
- A quarterly interest calculation method
Explanation
Know Your Customer (KYC) is the process by which a bank verifies the identity and address of a customer using documents such as Aadhaar, PAN, or passport. It is mandatory under the Prevention of Money Laundering Act and RBI directives.
Question 37Banking Operations and Types of Accounts
A customer with a current account wants to deposit cash of Rs. 10 lakh in a single day. The bank will most likely:
- Accept the deposit only after closing the account
- Refuse the deposit outright because cash deposits above Rs. 1 lakh are illegal
- Accept the deposit and report it under Cash Transaction Report requirements where applicable Correct answer.
- Accept the deposit only through a cheque
Explanation
Banks accept cash deposits but must comply with anti-money-laundering reporting norms; cash transactions above the prescribed threshold are reported in the Cash Transaction Report. The deposit itself is not illegal.
Question 38Banking Operations and Types of Accounts
A 'dormant' or 'inoperative' account is one where:
- The account balance has exceeded the insured limit
- The account is operated only by the nominee
- No customer-initiated transaction has occurred for the period specified by the bank's policy Correct answer.
- The account has been closed by the customer
Explanation
An account becomes dormant or inoperative when there is no customer-initiated transaction for a specified period, typically two years. Reactivation requires fresh KYC and a written request from the account holder.
Question 39Banking Operations and Types of Accounts
Under the nomination facility for bank deposits, the nominee's role is to:
- Receive the deposit proceeds after the depositor's death, subject to settlement of claims Correct answer.
- Become the owner of the deposit during the depositor's lifetime
- Pledge the deposit for a loan
- Operate the account jointly with the depositor
Explanation
A nominee is entitled to receive the deposit amount on the death of the depositor, but the nominee holds the proceeds as a trustee for the legal heirs. Nomination does not confer any ownership rights during the depositor's lifetime.
Question 40Banking Operations and Types of Accounts
Which of the following statements about a 'joint account operated by either or survivor' is correct?
- The account cannot be operated after the death of one holder
- Only the first-named holder can operate the account
- Both holders must sign every cheque for withdrawal
- Either holder can operate the account alone, and the survivor can continue after the death of the other Correct answer.
Explanation
In an 'either or survivor' mandate, any one of the joint holders can operate the account during their joint lives, and the survivor can continue operating after the death of the other. This is the most common joint account mandate.
Question 41Banking Operations and Types of Accounts
A customer wants to open a savings account in the name of a registered society. What is the usual requirement?
- The society can open a savings account with a resolution and KYC documents of authorised signatories Correct answer.
- The society must open only a fixed deposit account
- The society must open a current account and cannot hold any other account
- A society cannot open any bank account
Explanation
A registered society or association can open a savings account by submitting its registration certificate, a resolution authorising signatories, and KYC documents of those signatories. Banks may apply restrictions on transaction limits depending on the entity type.
Question 42Banking Operations and Types of Accounts
What does 'lien' mean when marked on a bank deposit account?
- A restriction imposed by the RBI on foreign remittances
- A right of the bank to set off the deposit against a customer's liability to the bank Correct answer.
- A tax deducted on interest paid on deposits
- A charge created in favour of the customer on bank property
Explanation
A lien is the bank's right to retain the deposit and adjust it against a debt or liability owed by the customer, such as an unpaid loan. Lien marking prevents the customer from withdrawing the funds without the bank's consent.
Question 43Banking Operations and Types of Accounts
A customer with a savings account wants to pledge the balance as security for a loan taken by a third party. Which step is most appropriate?
- The customer transfers the deposit to the third party's account
- The customer closes the savings account and opens a current account
- The customer executes a pledge or lien letter in favour of the bank, and the bank marks a lien on the account Correct answer.
- The customer simply informs the bank verbally
Explanation
To pledge a deposit as security, the account holder must execute a pledge or lien letter in the bank's favour, and the bank marks a lien on the deposit. This gives the bank a legally enforceable right over the funds if the borrower defaults.
Question 44Banking Operations and Types of Accounts
A bank receives a garnishee order attaching a customer's savings account. What should the bank do?
- Close the account immediately
- Ignore the order because it comes from a court
- Honour the order to the extent directed, after verifying the balance and the customer's other obligations Correct answer.
- Transfer the entire balance to the court without any verification
Explanation
A garnishee order is a court direction to the bank to attach the customer's funds; the bank must comply to the extent specified after verifying the balance and any prior liens. The bank must also inform the customer and follow the court's directions precisely.
Question 45Banking Operations and Types of Accounts
A bank customer has an account with a balance of Rs. 50,000 and a lien marked for Rs. 20,000 in favour of the bank. The customer requests withdrawal of Rs. 40,000. What should the bank do?
- Refuse all withdrawals until the lien is removed
- Allow withdrawal of only Rs. 30,000, keeping the lien amount intact Correct answer.
- Allow the full withdrawal of Rs. 40,000
- Close the account and pay the entire balance
Explanation
A lien reduces the effective available balance; the customer can withdraw only the unencumbered portion, which is Rs. 50,000 minus Rs. 20,000, i.e. Rs. 30,000. The lien amount remains blocked until released by the bank.
Question 46Banking Operations and Types of Accounts
A customer opens a savings account and the bank issues a passbook. What is the main purpose of the passbook in a savings account?
- To guarantee a fixed rate of interest for the whole period the account remains open
- To act as a cheque book from which the customer can draw funds by signing each page
- To record deposits, withdrawals and balances so the customer can verify entries against bank records Correct answer.
- To serve as a legally negotiable instrument that the customer can endorse to a third party
Explanation
A passbook is a record of account transactions: the bank enters debits, credits and the running balance, and the customer uses it to reconcile entries and raise discrepancies. It is not a negotiable instrument, not a cheque book, and it does not fix the interest rate.
Question 47Banking Operations and Types of Accounts
A salaried person wants an account for salary credit and small savings, while a shopkeeper needs an account for many daily business receipts and payments. Which pairing of accounts best fits these two needs?
- Current account for the salaried person and savings account for the shopkeeper
- Savings account for the salaried person and current account for the shopkeeper Correct answer.
- Fixed deposit for the salaried person and recurring deposit for the shopkeeper
- Recurring deposit for the salaried person and savings account for the shopkeeper
Explanation
A savings account suits individuals who park salary and small savings and earn interest on the balance. A current account is meant for business use, allows unlimited transactions and pays no interest, which fits the shopkeeper's frequent receipts and payments.
Question 48Banking Operations and Types of Accounts
A customer holds a savings account with a balance of Rs. 40,000 and issues a cheque for Rs. 55,000. The bank returns the cheque unpaid. Under the RBI's rules on dishonour for insufficient funds, what is the bank's obligation?
- Pay the cheque in full and charge the shortfall to the branch's own suspense account
- Return the cheque with a memo stating the reason for return, such as insufficient funds Correct answer.
- Hold the cheque indefinitely until the customer deposits enough money to cover it
- Pay the cheque and recover the excess amount later from the customer's future deposits
Explanation
A bank is bound to honour a cheque only up to the available balance plus any sanctioned limit. When funds are insufficient, the bank returns the cheque unpaid with a return memo recording the reason, and the customer bears the consequences under the Negotiable Instruments Act.
Question 49Banking Operations and Types of Accounts
A customer holding a savings account wants to convert it into a fixed deposit for two years. Which statement correctly describes how the fixed deposit differs from the savings account?
- The fixed deposit allows unlimited withdrawals at any time without any loss of interest
- The fixed deposit is a transaction account on which cheques can be drawn freely
- The fixed deposit carries a higher agreed rate for the chosen tenor but restricts premature withdrawal with a penalty Correct answer.
- The fixed deposit pays interest only at maturity and never permits premature closure
Explanation
A fixed deposit is a term deposit placed for a chosen tenor at a rate agreed at the time of placement. The funds are locked in, and premature closure is allowed only with a penalty in the applicable rate, unlike a savings account where withdrawals are permitted subject to rules.
Question 50Banking Operations and Types of Accounts
A customer's savings account has been inoperative for over two years, and the bank has classified the credit balance as an unclaimed deposit under the RBI framework. After the customer completes fresh KYC and requests reactivation, how is the balance treated?
- The balance is paid only in cash and without any interest accrued during the dormant period
- The balance is forfeited because the account was inoperative for more than two years
- The balance is reactivated and paid to the customer along with the applicable interest as per the bank's policy Correct answer.
- The balance is transferred to the bank's profit after the customer completes fresh KYC
Explanation
Under the RBI's unclaimed deposit framework, banks must keep such balances available and cannot appropriate them. Once the customer completes fresh KYC and the account is reactivated, the balance is restored with interest as per the bank's policy.