LU 7

Which of the following constitute demand deposits?

• Current account

• Recurring deposit

• Fixed deposit

• Savings deposit

Which of the following is not a benefit of current account offered to customers?

• Facilitates high value transactions

• Overdraft facility

• Value added services

• Interest income

Identify the false statement

• Proprietorship accounts can have nominees

• Partnership accounts cannot have nominees

• One person company can have nominee

• Public sector company can have nominee

Identify the wrong combinations with respect to entity proofs for the following businesses.

• PAN card - proprietorship

• AOA - Partnership

• MOA - Public Ltd Company

• Certificate of incorporation - Public limited company

The minimum AQB required to be maintained in a General current account at metro branches is

• 7500

• 2500

• 10000

• 5000

How does cash management services reduce the borrowing cost in the corporates?

• Increasing liquidity

• Faster clearing of funds

• Giving loans at reduced rate of interest

• Specialized services for the corporate

Which option is most likely to be used when the clients of the corporates are account holders in Bank of India?

• Direct debit transactions

• NACH transactions

• ECS

• Cheque collection

Cash / cheque pickup / delivery and DD delivery are part of (a)   service.

How many variants of current account is currently being offered by Bank of India?

• 9

• 8

• 7

• 14

Which of the following is not a part of cash management services?

• NACH Collections

• Bulk Remittances

• Tele-calling facility

• Exclusive grievance cell for the customer