Click the appropriate answer:

1) Focal point of the economic activity of an individual or a state

finance ministry
corporate sector
banking sector

2) Function of the bank is

only accepting cash & lending cash
accepting deposists at lower rates and lending at a higher rate
keeping deposits in custody

3) The rate of interest is higher on

deposits
advances
services

4) Clearing house means

accepting and giving of cash
accepting of cheques of different banks and returning for payment to the concerned bank or for whom it is drawn
exchange of currency

5) Safe deposit lockers are given to

customer of banks
foreigners who have accounts abroad
individuals without accounts

6) Rate of interest on savings bank account is

4%
5%
6%

7) Amount can be deposited in bank through

cash
cheque
both

8) Savings bank account can be opened in the name of

individual
joint holders
both

9) Withdrawals can be made by

cash
cheque
both

10) Interest can be paid on

minimum balance after the 10th of that month
balance as of last day of the month
balance of the 1st day of the month

11) Rate of interest on current account deposits

5%
4%
NIL

12) Current deposits account is opened for the business purpose of

savings
business
accountancy

13) Rate of interest on term deposit is

higher than the rate on savings bank a/c
lower than the rate on savings bank a/c
same as savings bank a/c rate

14) In fixed deposits account money is deposited

every month
for a period of time
every fortnight

15) In case of fixed deposit account the depositor can withdraw the money

at any time
only after the expiry of the specific period
every month

16) The amount of loan against fixed deposit is

50%
75%
80%

17) Rate of interest charged on loan against fixed deposit is

15%
13%
2% more than what you get on fixed deposit

18) In recurring deposits,the depositors can deposit

Re 1
Rs 5 or Rs 500
Rs 100 or Rs 500

19) The rate of interest on recurring deposits account is

simple interest
compound interest
interest in reducing balance

20) Recurring deposits are generally opened for

6 months
1 year
6 months to 1 year

21) The amount to be paid in recurring deposit account should be paid

on1st of every month
on the day of opening of account of every month
on the last day of the month

22) In current deposits account depositor can withdraw by

withdrawal slips
by cheque only
both

23) Withdrawals in savings bank can be done by

cheque only
withdrawal slips only
both

24) In case of savings bank account the depositor who enjoys cheque book facility should

maintain a minimum balance of Rs 500
need not have any balance
maintain exbalance of Rs 1000

25) Savings bank account can be opened with a minimum amount of

Rs 50
Rs 100
Rs 500

26) Enteries of savings bank deposits and withdrawals are entered in

cheque book
pass book
statements

27) Travellers cheque are issued to customers

going abroad
travelling in different states
travelling from one region to another

28) Safe deposit lockers are entered to

customers of bank
foreigners
NRI

29) Safe deposit locker services are given on payment of

rent
interest
commission

30) Collection of various taxes is done by the bank on behalf of

government
customer
treasury