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1. A banker should take the following precaution while dealing with a minor. Which among the given option is true?
(a) A savings bank account can be opened in the name of the minor, to be operated upon by the natural guardian or the guardian appointed by the court
(b) A savings or current account may be opened in the name of the minor which can be operated upon by him/her if he/she has not attained the age of 12 years.
(c) No risk is involved if an account is opened in the name of a minor ever if it is allowed to be overdrawn by the minor
(d) All of the above
(e) None of the above
2. As per RBI directives, banks are allowed opening a minor account subject to the following conditions. Which among the following is correct?
(a) Only fixed, savings and recurring deposits accounts can be opened
(b) Mother can also be accepted as a guardian
(c)The accounts can also be opened in the guardianship of the mother, even if the father of the minor is living.
(d) All of the above
(e) None of the above
3. The facility of nominations is also available in case of joint accounts. Which is true in this context?
(a) The statement is not true
(b) Each of the joint account holders can nominates a person of his choice to receive the balance of his share in case of his death
(c) All the joint deposits together may nominate one person to whom in the event of death of all the depositors, the amount of deposit may be paid
(d) Such nominee shall become entitled to the rights of the deceased even if one of the joint account holder dies
(e) None of the above
4. In the case of advances against fixed deposits receipts of the bank,
(a) Deposit represented by the receipt is assigned to the bank
(b) Deposit receipt is pledged to the bank
(c) Deposit receipt is hypothecated to the bank
(d) A lien is created on the deposit receipts in favour of the bank
(e) None of these
5. For opening of bank account, a prospective account holder can be introduced by,
(a) An existing account holder
(b) A respective person of local community known to the bank, who may not be having an account with the bank
(c) Confirmed staff member
(d) Any one of the above
(e) Only (a) and (c) above
6. Which of the following statements is correct in regard to nomination facility for their depositors?
(a) Nomination facility is available to existing as well as new depositors
(b) Nominations can be made in favour of one person only
(c) Nomination facility is available for accounts standing in the names of individuals in the single name or joint names.
(d) All of the above
(e) None of these
7. Nomination facilities were extended to banks on the recommendations of
(a) Talwar committee
(b) Pillai Committee
(c) Tandon Committee
(d) Ghosh Committee
(e) None of these
8. Nomination facilities are available,
(a) In deposit accounts
(b) On safe deposit lockers
(c) On articles deposited for safe custody
(d) In all the above cases
(e) None of these
9. Which of the following are accepted as a means of introduction of a savings/time deposits account?
(a) A Passport
(b) Identity card issued by a government department the municipality, educational institution
(c) Postal identification card
(d) All of the above
(e) None of the above
10. The rate of interest on savings bank account is stipulated by
(a) The concerned bank
(b) RBI
(c) Indian banks association
(d) Government of India
(e) Banking codes and standards board of India
Answers –
1) a
2) d
3) c
4) d
5) d
6) d
7) a
8) d
9) d
10) a
