Money Matrix

What to do to get your money back if you are doing an ATM transaction and money did not came out but it is debited from your account??

• Start kicking the ATM machine

• Take a photograph of the receipt showing failed transaction and complain it to the bank

• Complain your bank about the issue without any proof of failed transaction

• Start complaining about the difficulties of life

What is the best practice in a bank to avoid any problem while withdrawing currency?

• Take time and check your notes on the counter itself

• Take your notes outside the bank and check it

• Don't check it at all, trust the bank afterall there is no chance of error as they use hightech machines to ensure no error

• Take your notes and hide in any corner of the bank and then check your notes

What is the minimum prescribed percentage of the Capital Adequacy Ratio (CAR) to be maintained by Indian Banks?

• 8%

• 9%

• 10%

• 3.5%

Is it possible to redeem a mutilated cheque, if its possible then whose consent is required?

• Mutilated Cheques are useless so throw them in dustbin

• Yes, but banker intimation is must

• No, ask the Drawer to re-use cheque

• Fight with the bank staff and force them to pass your mutilated Cheque

Which of these assets can not be used as collateral for taking a loan??

• All type of insurance policies, General and Life insurance policies included

• Fixed return generating insurance policies like Money back plans, ULIPs, etc...

• Equity Shares, land and machines

• Fixed Deposits, Mutual funds, Gold, and Bonds

Which scheme was launched by the Indian government to solve problems of Indian consumers related to services rendered by banks?

• Pradhan Mantri Suraksha yojana

• Jan Vikaas Yojana

• Banking Ombudsman Scheme

• SARFAESI Act

The maximum amount that is exempted for an individual under the 80C section in case of buying life insurance is

• Rs 2,00,000

• Rs 1,50,000

• Rs 1,00,000

• Zero

In case of over-subscription of an IPO, shares are allotted on the basis of

• First come, first serve

• Lottery

• Proportionate distribution

• Bidding is done

Which of the following is the safest asset for making long-term investments?

• Futures and Option

• Penny Stock

• Gold

• Cryptocurrency

Can multiple currency notes have the same number?

• No

• Can't say

• Yes

• Why should I care?