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BY Asst. Prof. Parasmani Jangid

Unit-5 Different Types of Accounts

252. Mainly how many types of bank accounts are there?

a. 3
b. 4
c. 5
d. 6
253. Balance in a current account is classified as which of the following?
a. Hybrid deposit
b. Term deposit
c. Demand deposit
d. Fixed deposit
254. BSBDA stands for ____________.
a. Basic Saving and Bank Deposit Access
b. Basic Saving and Bank Demand Account
c. Broad Saving and Bank Deposit Account
d. Basic Saving and Bank Deposit Account
255. NDTL stands for_____________.
a. Net Demand and Time Liabilities
b. National Demand and Time Liabilities
c. Net Deposit and Term Liabilities
d. Net Deposit and Time Liabilities
256. Which of the following is not acceptable as address proof for opening a bank account by an
individual?
a. Letter from any recognized public authority
b. Domicile certificate
c. A rent agreement indicating the address of the customer duly registered with State
Govt.
d. Other than those gives as options
257. The savings bank account that does not operate for more than 24 months, then the
account is called?
a. dormant account
b. demat account
c. inoperative account
d. inactive amount
258. What is the prevailing Base Rate according to RBI?
a. 7.25%-8.80%
b. 7.50%-8.00%
c. 5.00%-8.50%
d. 8.50%-9.90%
259. What is Savings deposit rate currently prevailing?
a. 3.00%-4.00%
b. 2.05%-3.50%
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BY Asst. Prof. Parasmani Jangid

c. 2.70%-3.00%
d. 1.50%-2.50%
260. What is Term Deposit Rate currently available in banks?
a. 4.00%-6.00%
b. 5.00%-5.60%
c. 5.50%-6.50%
d. 5.00%-7.00%
261. MCLR stands for ________________.
a. Marginal Cost of funds based Lending Rate
b. Marginal Current lending Rate
c. Maximum Cost of lending Rate
d. Marginal Current Loan Rate
262. _____________is the lowest interest rate that a bank or lender can offer. Most banks
cannot offer interest rates lower than this rate.
a. MCLR
b. CRR
c. SLR
d. MSF
263. What is the current MCLR ?
a. 6.45%-7.00%
b. 6.00%-7.00%
c. 5.00%-6.00%
d. 5.55%-6.35%
264. SRF is _________.
a. Special Refinance Fund
b. Special Refinance Facility
c. Saving Rate Fund
d. Saving Refinance Facility
265. What is Single Resolution Fund?
a. It is an emergency fund that can be called upon in times of crisis.
b. It can be used to ensure the efficient application of resolution tools for resolving the
failing banks, after other options, such as the bail-in tool, have been exhausted.
c. Fund can be used for personal purpose.
d. Only a. and b.
266. __________ is one wherein you deposit your savings with the bank and earn interest on
the same.
a. Savings Account
b. Current Account
c. NRE Account
d. NRO Account
267. __________is one where you deposit money to carry out business transactions.
a. Savings Account
b. Current Account
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BY Asst. Prof. Parasmani Jangid

c. NRE Account
d. NRO Account
268. In _________, an amount is deposited for a fixed period of time. A fixed deposit provides
interest on the deposited amount.
a. Savings Deposit
b. Current Account
c. Recurring Deposit
d. Fixed Deposit
269. In____________, the customer deposits fixed amounts in small intervals for a long period.
The main purpose of it, is to develop the habit of saving on a regular basis.
a. Savings Deposit
b. Current Account
c. Recurring Deposit
d. Fixed Deposit
270. An _______ account is a bank account opened in India in the name of an NRI, to park his
foreign earnings.
a. Savings Account
b. Current Account
c. NRE Account
d. NRO Account
271. An _______ account is a bank account opened in India in the name of an NRI, to manage
the income earned by him in India. These incomes include rent, dividend, pension, interest,
etc.
a. Savings Account
b. Current Account
c. NRE Account
d. NRO Account
272. NRE stands for ___________________.
a. Non-Recurring External
b. Non-Residential External
c. Non-Recurring Export
d. Non- Residential Export
273. NRO stands for ____________________.
a. Non- Resident Ordinary
b. Non-Recurring Ordinary
c. Non- Resident Optional
d. Non-Resident Overdraft
274. Current account is also known as _______.
a. Demand Deposit Account
b. Demand Account
c. Deposit Account
d. Term Account
275. Current account interest is sponsored for it ____________.
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BY Asst. Prof. Parasmani Jangid

a. Current account of RRB sponsored by it.
b. Where the account holder is dead.
c. No interest available on current account
d. Both a. and b.
276. In case of Illiterate’s savings account what is the precaution to be taken?
a. Thumb impression of illiterate person in presence of bank’s official
b. Withdrawal by cheques are not permitted
c. Withdrawal of abnormal amount should be witnessed by a person other than staff of
a bank
d. All of the above