According to RBI guidelines, what must banks do before providing a locker facility?

Verify customer's email address

Require a credit history report

What is the primary role of a merchant banking firm?

Offering retail banking services

Which government business involves the collection of taxes?

Health and family welfare accounts

What services do merchant banking firms typically offer?

A range of services including financial, legal, and advisory

Which government business activity involves the collection of direct and indirect taxes?

Collection of Central Excise and Customs

Collection of railway station revenues

Opening of Post Office Receipts accounts

Opening of Public Provident Fund Accounts

What does RTGS stand for in the context of fund transfers?

Regular Transfer of Goods and Services

Rapid Transaction and General Services

Reliable Technology for Global Settlement

In which scenario might a bank notify the locker hirer to operate the locker or surrender it?

If the locker remains inoperative for an extended period

If the locker is accessed frequently

If the bank needs additional locker space

What is the primary purpose of the Electronic Benefit Transfer (EBT) scheme?

To transfer subsidies and cash benefits directly to people

To provide discounts on banking services

To offer special benefits to senior citizens

To encourage electronic payments for retail purchases

To facilitate international fund transfers

What is the key role of a mobile banking application?

To eliminate the need for bank visits

To promote paper-based transactions

To offer physical banking services

To replace online banking platforms

What is the primary function of a safe deposit locker?

Keeping valuables and documents

Facilitating international transfers

What does EBT stand for in the context of financial services?

Essential Business Transactions

What is the role of a merchant banking firm in the business world?

Assisting businesses with various financial aspects

Providing banking services to individuals

Offering legal and taxation advice

Facilitating interbank transactions

Which government business activity involves the collection of railway station revenues?

Collection of Central Excise and Customs

Opening of Post Office Savings Accounts

Opening of Public Provident Fund Accounts

Collection of State Excise duties

What is the primary function of Telegraphic Transfer (TT)?

Transferring funds via cable services

What was the main purpose of the "Direct Benefit Transfer" (DBT) program under the EBT scheme?

Transfer of subsidies and cash benefits to individuals

Providing financial services to corporate clients

Facilitating international remittances

What is the primary advantage of mobile banking over traditional banking methods?

Availability of physical branches

What is the key role of merchant banking in assisting businesses?

Helping with fund raising and expansion

Facilitating import and export transactions

What does the "Portfolio Management Scheme" (PMS) provided by banks primarily involve?

Management of an individual's investments

Guaranteed returns on investment

Risk-free investment strategies

What is the significance of a "Nominee" in the context of locker facilities?

A person designated to access locker contents

An extra key holder for the locker

A bank representative assigned to lockers

A witness for locker transactions

What is the primary purpose of merchant banking in terms of starting and managing businesses?

Managing customer relationships

Supporting financial operations

What is the primary responsibility of banks in Government Business activities?

Providing foreign exchange services

Assisting with public health programs

What is the significance of "Portfolio Management Scheme" in the context of RBI guidelines?

It manages long-term investible funds

It guarantees high returns on investments

It focuses on short-term investments only

It allows investments in foreign currency

It aims to provide advisory services only

Module A PPB Unit 15- Ancillary Services

Authored by CLD HYDERABAD

Education

Professional Development

Used 2+ times

Module A PPB Unit 15- Ancillary Services

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48 questions

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MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does the term "Remittance" refer to?

Transfer of goods

Transfer of services

Transfer of funds

Transfer of documents

Transfer of technology

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is NOT a method of remittance?

Telegraphic Transfer (TT)

Mail Transfer (MT)

National electronic funds transfer (NEFT)

Demand Draft (DD)

Real Time Gross Settlement (RTGS)

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the validity period of a Demand Draft (DD)?

1 month

2 months

3 months

6 months

1 year

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the primary difference between a Banker's Cheque and a Demand Draft (DD)?

DD requires "A/c payee" crossing

Banker's Cheque is issued for international remittance

Banker's Cheque cannot be cleared in any branch

DD cannot be used for internal remittance

Banker's Cheque has a validity of 6 months

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following information is required for a Telegraphic Transfer?

Name of the remitter

Amount of remittance

Beneficiary bank's SWIFT code

Purpose of transfer

Remittance currency

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which settlement system operates in real-time batches?

NEFT

RTGS

IMPS

Both NEFT and RTGS

Both RTGS and IMPS

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the minimum transfer limit for NEFT?

Re.1

Rs.1,000

Rs.50,000

Rs.1 lakh

Rs.2 lakh

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Module A PPB Unit 15- Ancillary Services

What does the term "Remittance" refer to?

Which of the following is NOT a method of remittance?

What is the validity period of a Demand Draft (DD)?

What is the primary difference between a Banker's Cheque and a Demand Draft (DD)?

Which of the following information is required for a Telegraphic Transfer?

Which settlement system operates in real-time batches?

What is the minimum transfer limit for NEFT?

In which year did mobile banking begin in India?

What is Electronic Benefit Transfer (EBT) primarily aimed at?

What type of relationship exists between a bank and the hirer of a safe deposit locker?

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