Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitments.

Q1. Which among the following is Salient features of SCSS?

(a) A depositor may operate more than one account in individual capacity or jointly with spouse (husband/wife). 

(b) In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account.

(c) Account can be transferred from one post office to another.

(d) Nomination facility is available at the time of opening and also after opening of account.

(e) All of the above are Salient features of SCSS.

Q2. The Maturity period of SCSS is-

(a) 7 years

(b) 5 years

(c) 9 years

(d) 12 years

(e) 15 years

Q3. PPF account is a safe investment option with attractive interest rates and returns that are fully exempted from Income Tax. PPF stands for-

(a) Public Provident Follow 

(b) Public Provident Firm 

(c) Public Provident Fund

(d) Public Personal Fund 

(e) People Provident Fund 

Q4. What is the interest rate of PPF as on 01st January 2018?

(a) 7.6% per annum

(b) 7.4% per annum

(c) 7.8% per annum

(d) 7.2% per annum

(e) 7.7% per annum

Q5. What is the minimum amount for opening of account of PPF Account?

(a) INR. 1,000/-

(b) INR. 1,500/-

(c) INR. 2,500/-

(d) INR. 500/-

(e) INR. 100/-

Q6. What is the maximum balance that can be retained in PPF Account?

(a) INR. 3,50,000/- in a financial year.

(b) INR. 3,00,000/- in a financial year.

(c) INR. 2,50,000/- in a financial year.

(d) INR. 2,00,000/- in a financial year.

(e) INR. 1,50,000/- in a financial year.

Q7. How many installments can be Deposits in PPF account?

(a) 14 installments

(b) 16 installments

(c) 18 installments

(d) 12 installments

(e) 10 installments

Q8. What is the silent features of PPF Account?

(a) An individual can open account with INR 100/- but has to deposit minimum of INR 500/- in a financial year and maximum INR 1,50,000/-

(b) Account can be opened by cash / Cheque and In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account.

(c) Nomination facility is available at the time of opening and also after opening of account. Account can be transferred from one post office to another.

(d) The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts.

(e) All of the above is the silent features of PPF Account

Q9. NSC is an investment scheme floated by the Government of India. What is the meaning of “C” in NSC?

(a) Cess

(b) Certificate

(c) Cash 

(d) Common

(e) Clear

Q10. What is the Minimum Amount for opening of account in NSC?

(a) INR. 100/-

(b) INR. 200/- 

(c) INR. 300/- 

(d) INR. 400/- 

(e) INR. 500/- 

Q11. What is the maximum balance that can be retained in NSC?

(a) No Limit

(b) INR. 1 lakh

(c) INR. 15 lakh

(d) INR. 5 lakh

(e) INR. 10 lakh

Q12. What is the interest rate of NSC as on 01st January 2018?

(a) 7.5% compounded annually but payable at maturity.

(b) 7.6% compounded annually but payable at maturity.

(c) 7.7% compounded annually but payable at maturity.

(d) 7.7% compounded annually but payable at maturity.

(e) 7.8% compounded annually but payable at maturity.

Q13. KVP can be purchased from any Departmental Post office. KVP stands for-

(a) Kisan Vikas Public

(b) Kisan Vilay Patra

(c) Kisan Vikas Patra

(d) Krishi Vikas Patra

(e) Kisan Vimal Patra

Q14. The amount of KVP can be withdrawn after-

(a) 115 months

(b) 116 months

(c) 117 months

(d) 118 months

(e) 119 months

Q15. What is not the Salient features of KVP? 

(a) Certificate can be purchased by an adult for himself or on behalf of a minor or by two adults.

(b) KVP can be purchased from any Departmental Post office.

(c) Facility of nomination is available.

(d) Certificate can be transferred from one person to another and from one post office to another.

(e) Certificate can be cash after 5 & 10 years from the date of issue.

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