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WorksheetsDeposit and protection policy
Total questions: 93
Worksheet time: 47mins
Name
Class
Date
1.
The Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), has gone live at retail stores in which Country, marking the eighth country to implement the digital payment platform.
a)
Qatar
b)
Germany
c)
France
d)
Italy
2.
NB has integrated QR code-based UPI payments at point-of-sale (PoS) terminals for its merchant clients through a partnership with NPCI International Payments Limited (NIPL). This initiative is powered by WHICH payment solution, one of Japan’s leading payment gateway providers.
a)
StarPay
b)
NETSTARS
c)
NPCI PAY
d)
StarLink
3.
Bank of Baroda (Bank), one of India’s leading public sector banks, have entered into a Co-Lending partnership to
offer gold loans primarily targeted at underserved and unbanked customer segments across semi-urban and rural India
a)
Muthoot Finance
b)
Chola Finance
c)
IIFL Finance
d)
Suryoday Finance
4.
Bank of Baroda's policy requires that any vertical requiring the opening of a CA/SB/OD account for internal office use must obtain prior approval from ?
a)
MD & CEO
b)
ED (Jointly)
c)
RBI Director
d)
Chief Financial Officer (CFO)
5.
As per the Reserve Bank of India's proposal to strengthen the banking ombudsman scheme, what is the maximum amount of compensation that may be paid to an aggrieved bank customer for any consequential loss suffered?
a)
₹10 lakh
b)
₹20 lakh
c)
₹30 lakh
d)
₹40 lakh
6.
With which company , Bank of Baroda has entered into a MoU with effective from 22nd September 2025 for three years to enables MSMEs seeking loans for solar photovoltaic (PV) modules and plants up to 10 MW capacity
a)
Tata Power Renewable Energy Limited
b)
Torrent Power Renewable Energy Limited
c)
Adani Power Renewable Energy Limited
d)
Vedant Power Renewable Energy Limited
7.
A customer with a Basic Savings Bank Deposit Account reports an unauthorised transaction resulting from a third-party breach 5 working days after receiving the bank's communication. What is the customer's maximum financial liability?
a)
Zero
b)
The full transaction amount
c)
₹5,000 or the transaction value, whichever is lower
d)
₹10,000 or the transaction value, whichever is lower
8.
A customer's credit card with a limit of ₹7,00,000 is used for an unauthorised e-commerce transaction due to a third-party breach. If reported within 6 working days, what is the customer's maximum liability?
a)
Zero
b)
10000
c)
₹25,000 or the transaction value, whichever is lower
d)
The full transaction amount
9.
The Customer Protection Policy aims to provide a framework on limiting liability of customers against risks arising out of unauthorized debits due to all of the following EXCEPT
a)
Customer negligence
b)
Bank negligence
c)
Banking system frauds
d)
Force Majeure events
10.
As per RBI guidelines, which of these is categorized as a 'Remote/ online payment transaction'?
a)
ATM transactions
b)
POS transactions
c)
Internet banking
d)
Transactions requiring physical payment instrument
11.
A customer’s entitlement to zero liability shall arise in which of the following events?
a)
Where the unauthorised transaction occurs due to third party breach and the customer notifies the bank within three working days.
b)
Where the unauthorised transaction occurs due to contributory fraud on the part of the bank.
c)
Both A and B
d)
Where the customer reports the transaction within 4 to 7 working days
12.
What is the maximum liability for a customer holding a 'Basic Saving Bank Deposit account' in a limited liability scenario?
a)
Rs. 10,000/-
b)
Rs. 5,000/-
c)
Rs. 25,000/-
d)
The full transaction value
13.
In cases of third-party breaches, if a customer reports the fraudulent transaction beyond 7 working days, the customer liability shall be under The Customer Protection Policy :
a)
Zero liability.
b)
The transaction value or the amount mentioned in Table 1, whichever is lower.
c)
Determined as per the Bank's Board approved policy.
d)
100% Liability.
14.
The bank shall credit (shadow reversal) the amount involved in the unauthorized electronic transaction to the customer's account within how many working days from the date of notification by the customer?
a)
3 working days
b)
8 working days
c)
10 working days
d)
90 working days
15.
Under The Customer Protection Policy the burden of proving customer liability in case of unauthorised electronic banking transactions shall lie on the:
a)
Customer
b)
Bank
c)
Banking Ombudsman
d)
Police Authorities
16.
The bank may not offer facility of electronic transactions, other than ______, to customers who do not provide mobile numbers to the bank.
a)
UPI transactions
b)
ATM cash withdrawals
c)
POS transactions
d)
Internet Banking
17.
Which of the following is a channel available for blocking the 'bob World' application?
a)
SMS Facility
b)
BHIM Baroda Pay App
c)
WhatsApp Banking
d)
Net Banking
18.
The Customer Protection Policy explicitly states that the Bank will not be responsible for loss to the customer if:
a)
The customer is a senior citizen.
b)
The customer acts fraudulently.
c)
The transaction is an international transaction.
d)
The loss is due to a third-party breach.
19.
For which digital product is the analysis of 'Longitude latitude of the payer from Payer PSP' mentioned as part of the evidence collection process?
a)
Debit/Pre-paid Card Transactions
b)
Online Internet Banking Transactions
c)
Unified Payment Interface (UPI)
d)
Mobile Banking application Transactions
20.
In exceptional cases based on Bank's discretion in the Customer Protection Policy , the Bank can reimburse an amount subject to a maximum total compensation/restoration of amount per financial year. What is this amount?
a)
Rs. 5,000/-
b)
Rs. 10,000/-
c)
Rs. 25,000/-
d)
Rs. 50,000/-
21.
The quarterly statement on reported unauthorized electronic banking transaction is submitted to the Customer Service Committee of the Board by:
a)
Digital Group
b)
Customer Service department
c)
Centralised FRM Team
d)
Operation and Services Department
22.
The timeline for the release of final credit to the customer's account in The Customer Protection Policy , after which the shadow reversal becomes permanent, is:
a)
T+30 working days
b)
T+60 working days
c)
T+70 working days
d)
T+85 working days
23.
As per the definition in the Deposit policy, what does "Daily product" mean?
a)
The interest applied on the average monthly balance.
b)
The interest applied on the end of day balance.
c)
The total interest earned in a calendar month.
d)
The product of principal and the annual interest rate.
24.
What is the minimum stipulated tenor for a Term Deposit as per the policy?
a)
30 days
b)
7 days
c)
15 days
d)
1 day
25.
Under which of the following operating instructions for a joint account does the right to revoke instructions NOT lie with the second named account holder during the lifetime of the first?
a)
Either or Survivor
b)
Anyone or Survivor
c)
Former or Survivor
d)
Latter or Survivor
26.
For a minor's account, a cheque book will not be issued and no overdraft/loan will be granted. Under what condition can a minor above a certain age operate the account themselves?
a)
If the minor is above the age of 12 years.
b)
If the minor is above the age of 10 years and is capable in the opinion of the Branch Manager.
c)
If the minor is above the age of 18 years.
d)
If the minor is jointly operating the account with a guardian.
27.
According to the Deposit policy, how is interest on Savings Bank accounts calculated?
a)
On the minimum balance between the 10th and the last day of the month.
b)
On the average quarterly balance.
c)
On daily product basis (interest applied on the end of day balance).
d)
On the lowest balance of the month.
28.
An account is treated as "Inoperative / Dormant" if there are no customer-induced transactions for over a period of:
a)
3 years
b)
1 year
c)
2 years
d)
5 years
29.
An Account/Deposit would be treated as "Unclaimed" if it is inoperative for:
a)
2 Years or more
b)
5 Years or more
c)
10 Years or more
d)
15 Years or more
30.
According to the policy, what happens to the credit balances in unclaimed accounts?
a)
They are transferred to the Bank's profit account.
b)
They are transferred to the Depositors Education and Awareness Fund (DEAF-2014).
c)
They are kept in a suspense account indefinitely.
d)
They are donated to charity after 15 years.
31.
In a Flexi Fixed Deposit (FFD), when the operative account balance falls short, how is the FFD broken?
a)
On a First In First Out (FIFO) principle.
b)
On a pro-rata basis across all FFDs.
c)
On a Last In First Out (LIFO) principle.
d)
Based on the customer's specific instruction at that time.
32.
What is a key feature of a Non-Callable Deposit as per the policy?
a)
It must be for a minimum period of 5 years.
b)
It is a deposit above Rs.1.00 crore with additional interest and without a premature withdrawal option.
c)
It can be opened only by senior citizens.
d)
It offers a free insurance cover.
33.
For premature withdrawal of a domestic callable term deposit of Rs. 10 lakhs which has remained for 10 months, what interest penalty applies?
a)
No penalty is applied.
b)
Interest is paid 0.5% less than the applicable rate.
c)
Interest is paid 1% less than the applicable rate.
d)
Interest is paid 2% less than the applicable rate.
34.
For a premature withdrawal request of a callable term deposit of Rs. 1.5 Crore, what additional requirement is specified?
a)
The customer must give a withdrawal notice of minimum 31 days.
b)
No special requirements, standard penalty applies.
c)
The request must be approved by the Zonal Head.
d)
The deposit must be converted to a savings account first.
35.
In the event of the death of a depositor before the maturity of a Term Deposit, if the amount is claimed after the maturity date, how is interest calculated for the period from maturity till payment?
a)
No interest is paid for this period.
b)
Simple interest at the contracted rate.
c)
Simple interest at the applicable rate as on the date of maturity.
d)
Interest at the Savings Bank rate.
36.
What is the maximum insurance cover provided by DICGC for a depositor as per the policy?
a)
Rs. 1,00,000 (Rupees One Lakh)
b)
Rs. 2,00,000 (Rupees Two Lakhs)
c)
Rs. 5,00,000 (Rupees Five Lakhs)
d)
Rs. 10,00,000 (Rupees Ten Lakhs)
37.
Which of the following deposits is explicitly EXCLUDED from DICGC insurance cover?
a)
Recurring Deposits
b)
Savings Deposits
c)
Deposits of Central/State Governments
d)
Fixed Deposits
38.
As per FEMA definitions in the policy, a "Foreign Currency Account" means an account held in a currency other than the currency of:
a)
India
b)
India or Nepal
c)
India or Nepal or Bhutan
d)
India, Nepal, Bhutan, or Pakistan
39.
Who is eligible to open an NRO account according to the Deposit policy?
a)
Only Non-Resident Indians (NRIs).
b)
Any person resident outside India for putting through bonafide transactions in rupees.
c)
Only Persons of Indian Origin (PIOs).
d)
Only Overseas Citizens of India (OCIs).
40.
What is the tax status of income earned in NRE and FCNR(B) accounts?
a)
It is fully taxable in India.
b)
It is exempt from Income Tax.
c)
It is taxable only if remitted to India.
d)
It is subject to a flat 10% tax.
41.
What is the maximum permissible amount per financial year for remittance of balances from an NRO account of NRIs/PIOs?
a)
USD 100,000
b)
USD 1 million
c)
USD 2 million
d)
There is no limit.
42.
For an NRE Term Deposit, what is the minimum period as stipulated by the policy?
a)
7 days
b)
1 month
c)
1 year
d)
3 years
43.
Under what condition can a resident close relative operate an NRE/FCNR(B) account jointly held with an NRI on a 'former or survivor' basis?
a)
They can operate it freely at any time.
b)
They can operate it only with the NRI's written consent per transaction.
c)
They can operate it only as a Power of Attorney holder during the NRI's lifetime.
d)
They cannot operate the account under any circumstances.
44.
What is the rule regarding the interest rates on NRE/NRO deposits compared to domestic deposits?
a)
They shall not be higher than those on comparable domestic rupee deposits.
b)
They must be at least 0.5% higher than domestic deposits.
c)
They are always equal to the FCNR(B) rates.
d)
There is no such rule; banks are free to set them.
45.
Which of the following currencies is NOT listed as a "Permissible Currency" for FCNR(B) deposits in the policy?
a)
US Dollar
b)
Japanese Yen
c)
Euro
d)
Australian Dollar
46.
What is the maximum maturity period for an FCNR(B) deposit?
a)
3 years
b)
5 years
c)
7 years
d)
10 years
47.
How is interest on FCNR(B) deposits calculated in terms of the number of days in a year?
a)
On the basis of 365 days.
b)
On the basis of 365/366 days.
c)
On the basis of 360 days.
d)
On the basis of the actual calendar days.
48.
For a premature withdrawal of an FCNR(B) deposit, if the deposit has run for less than one year, what is the interest payable?
a)
Interest at the contracted rate.
b)
Interest at the applicable rate minus 1%.
c)
No interest shall be payable.
d)
Interest at the savings account rate for that currency.
49.
What is a key feature of a Special Non-Resident Rupee (SNRR) Account?
a)
It earns interest at a rate higher than NRE deposits.
b)
It is opened for persons with business interest in India and does not earn any interest.
c)
It can only be opened by foreign governments.
d)
The balances are not eligible for repatriation.
50.
From which of the following sources can a Resident Foreign Currency (RFC) Account be funded?
a)
Local earnings in rupees.
b)
Foreign exchange received as pension from an employer outside India.
c)
Proceeds from domestic stock market sales.
d)
Loans taken from Indian banks.
51.
What type of account is a Resident Foreign Currency (Domestic) Account, or RFC(D), maintained as?
a)
Savings Account
b)
Term Deposit Account
c)
Non-Interest bearing Current Account
d)
Recurring Deposit Account
52.
The Exchange Earner's Foreign Currency (EEFC) Account shall be maintained in the form of a:
a)
Savings Account.
b)
Non-Interest bearing Current Account.
c)
Term Deposit Account.
d)
Recurring Deposit Account.
53.
According to the Interest Rate Framework, if a term deposit matures on a non-business day, interest for the intervening period is paid:
a)
At the Savings Bank rate.
b)
At a penal rate of 2% below the contracted rate.
c)
At the originally contracted rate.
d)
No interest is paid for the intervening period.
54.
Which of the following is EXCLUDED from receiving the additional interest for Senior Citizens?
a)
Individual customers who attain the age of 60 years.
b)
HUF, even if the Karta is a senior citizen.
c)
Deposits under NRE/NRO schemes.
d)
Both Option B and Option C.
55.
The Bank is prohibited from opening a Savings Deposit account in the name of:
a)
An individual.
b)
A Karta of HUF.
c)
A political party.
d)
A Self-Help Group (SHG).
56.
The Bank can undertake Suo-Moto closure of an account after sending a notice period of:
a)
7 days
b)
15 days
c)
30 days
d)
60 days
57.
Which of the following is NOT listed as a reason for Suo-Moto closure of an account?
a)
Drawing cheques without funds.
b)
Maintaining a high balance consistently.
c)
Frequent involvement in section 138 (N.I. Act) proceedings.
d)
Dormant / Inoperative accounts.
58.
If a depositor does not get a response to their complaint within how many days, do they have the right to approach the Banking Ombudsman?
a)
30 days
b)
60 days
c)
90 days
d)
120 days
59.
As per the compliance section, the interest paid on deposits below what amount should not be subject to negotiation?
a)
Rs. 5 crores
b)
Rs. 3 crores
c)
Rs. 1 crore
d)
Rs. 50 lakhs
60.
According to the policy, a "Bulk Deposit" for a Scheduled Commercial Bank is defined as a single Rupee term deposit of:
a)
Rs. 1 crore and above.
b)
Rs. 3 crore and above.
c)
Rs. 5 crore and above.
d)
Rs. 10 crore and above.
61.
The Bank explicitly states it will NOT carry out financial transactions requested by customers through:
a)
Registered post.
b)
Phone banking after verification.
c)
Email, even with a scanned letter attachment.
d)
In-person written instructions.
62.
For which type of accounts does the policy state that a customer is NOT allowed to have any other Savings Bank Account?
a)
Any account with a cheque book facility.
b)
Basic Savings Bank Deposit (BSBD) / PMJDY accounts.
c)
Accounts operated by Power of Attorney.
d)
NRO Savings Accounts.
63.
If a bank decides to change the schedule of charges, how many days in advance must this be displayed on its website?
a)
7 days
b)
15 days
c)
30 days
d)
60 days
64.
As per the Master Directions cited, a Savings deposit account CANNOT be opened in the name of a:
a)
Sole Proprietary Concern.
b)
Primary Co-operative Credit Society financed by the bank.
c)
Individual.
d)
Karta of a HUF.
65.
Under what specific condition can a non-resident close relative be a joint holder in a resident Indian's account?
a)
On an "Either or Survivor" basis.
b)
On a "Former or Survivor" basis, but cannot operate it during the resident's lifetime.
c)
On an "Anyone or Survivor" basis.
d)
They cannot be a joint holder under any condition.
66.
In a "Latter or Survivor" mandate for a joint account of A & B, to whom is the final balance paid on the date of maturity?
a)
To the survivor.
b)
To the former (A).
c)
To the latter (B).
d)
Equally to both A and B.
67.
For an illiterate person's account, with whom can a joint account NOT be opened?
a)
With a literate close relative like a son.
b)
With another illiterate who is a close relative like a spouse.
c)
With two cousins.
d)
With a legal guardian appointed by the court.
68.
What is the interest payment rule for a current account standing in the name of a deceased individual depositor?
a)
No interest shall be paid under any circumstance.
b)
Interest is paid at the Fixed Deposit rate from the date of death.
c)
Interest is paid from the date of death at the rate applicable to savings deposits.
d)
Interest is paid only if claimed within 30 days of death.
69.
The Bank will accept Debit Card hot-listing instructions through all EXCEPT:
a)
Digital Mode.
b)
Customer Care Phone Banking.
c)
A written letter sent via post.
d)
The branch channel during business hours.
70.
Before an account is categorized as dormant, it is first treated as a "potentially dormant account" after being inoperative for:
a)
6 months.
b)
1 year.
c)
18 months.
d)
2 years.
71.
For a Tax Savings Term Deposit, under what specific circumstance is premature payment permitted?
a)
After the deposit has completed 3 years.
b)
In case of critical illness of the depositor.
c)
In case of death of the depositor.
d)
Never, under any circumstance.
72.
What is the specific rule for automatic renewal of a term deposit if the depositor gives no maturity instructions?
a)
It is always renewed for the same period.
b)
If placed for >1 year, renewed for 1 year; if <1 year, renewed for the same period.
c)
It is automatically closed and proceeds credited to the savings account.
d)
It is renewed for a fixed 6-month period.
73.
In a joint term deposit with an "Either or Survivor" mandate, if one holder dies and premature closure is demanded, what is required?
a)
Only the survivor's signature.
b)
Consent of the legal heirs of the deceased must be obtained.
c)
A court order is mandatory.
d)
The deposit cannot be pre-maturely closed.
74.
The Deposit policy explicitly states that no loan facility shall be allowed to:
a)
A minor jointly with a guardian.
b)
A partnership firm.
c)
A HUF and a Minor in sole name.
d)
A private limited company.
75.
In a deceased depositor's account where there is no nomination and no disputes among claimants, the Bank can pay the amount against:
a)
A court decree only.
b)
Joint application and indemnity by all legal heirs, up to a Board-approved limit.
c)
The submission of a succession certificate only.
d)
An affidavit from the eldest legal heir.
76.
What is the specific requirement for attesting the nomination form of a depositor who uses a thumb impression?
a)
Attestation by one witness.
b)
Attestation by two witnesses.
c)
Attestation by a Gazetted Officer.
d)
Attestation by the Branch Manager.
77.
When an erstwhile minor attains majority and the account was operated by the natural guardian, what is required?
a)
The account must be closed and a new one opened.
b)
The guardian's signature continues to be valid.
c)
Fresh specimen signature and photograph of the erstwhile minor, verified by the guardian.
d)
A court order is needed to change the operating instructions.
78.
For a visually challenged person, the Bank's policy is to offer facilities like Net banking:
a)
only with a guarantor.
b)
without any discrimination and with all possible assistance.
c)
but without cheque book facility.
d)
only for savings accounts, not current accounts.
79.
What is the defined minimum period for a "Deposit at Notice"?
a)
Withdrawable on demand.
b)
At least one complete banking day's notice.
c)
A 7-day notice period.
d)
A 30-day notice period.
80.
According to the policy, what is the status of a resident individual's account when they leave India for employment indicating an uncertain stay?
a)
It should be designated as a Non-Resident (Ordinary) Account (NRO).
b)
It should be closed immediately.
c)
It can continue as a resident account for 6 months.
d)
It should be designated as an NRE account.
81.
For an NRO account opened by a foreign national of non-Indian origin visiting India, under what condition can the balance be paid to them upon departure?
a)
Only if the account has a zero balance.
b)
If the account is maintained for ≤6 months and not credited with any local funds other than interest.
c)
Only if they provide a tax clearance certificate.
d)
Under no condition; funds must be remitted to their home country.
82.
What is the specific limit for a resident individual to give a rupee gift to a NRI/PIO/OCI close relative, which can be credited to the NRO account?
a)
Up to USD 10,000 per financial year.
b)
Within the overall limit of USD 250,000 per financial year under LRS.
c)
Up to INR 10,00,000 per transaction.
d)
There is no specific limit.
83.
A resident Power of Attorney holder for an NRO account is permitted to:
a)
repatriate funds to any person outside India.
b)
make gifts to a resident on behalf of the NRI.
c)
transfer funds to another NRO account.
d)
remit outside India the current income of the account holder, net of taxes.
84.
What is the TDS rate for interest on an NRO account if the total interest earned in a FY is greater than Rs. 50 lakh but less than or equal to Rs. 1 crore?
a)
0.312
b)
0.3432
c)
0.3588
d)
0.39
85.
For an NRE Term Deposit, what is the maximum period for which the Bank accepts deposits?
a)
3 years
b)
5 years
c)
7 years
d)
10 years
86.
In a joint NRE account with a resident close relative, how can the resident relative operate the account during the NRI's lifetime?
a)
As a joint holder with full rights.
b)
Only as a Power of Attorney holder.
c)
They cannot operate the account under any circumstances.
d)
Only for depositing funds, not for withdrawal.
87.
If the claimants of a deceased NRE Term Deposit account are residents, how is the deposit treated on maturity?
a)
It is repatriated to their resident foreign currency account.
b)
It is treated as a domestic Rupee Term Deposit for the subsequent period.
c)
It must be closed immediately upon maturity.
d)
It continues as an NRE deposit for the claimants.
88.
Penalty on premature withdrawal of an NRE term deposit is waived for conversion into:
a)
an NRO deposit.
b)
a Fresh NRE deposit.
c)
a Resident Foreign Currency (RFC) Account.
d)
an FCNR(B) deposit.
89.
For an FCNR(B) deposit, the interest reset period for all floating rate deposits shall be:
a)
3 months.
b)
6 months.
c)
1 year.
d)
At the bank's discretion.
90.
For premature withdrawal of an FCNR(B) deposit in US Dollars that has run for 2 years, what is the penalty?
a)
No interest is paid.
b)
Interest is paid 1% less than the applicable rate.
c)
Interest is paid at the savings account rate.
d)
The swap cost is recovered at the bank's discretion.
91.
In the case of a deceased FCNR(B) depositor, if the claimants are residents, the maturity proceeds are converted to Indian Rupees on the date of maturity and subsequent interest is paid at the rate applicable to:
a)
the original FCNR(B) deposit.
b)
a domestic term deposit of similar maturity.
c)
the savings account.
d)
no interest is paid after maturity.
92.
The tenure of a Special Non-Resident Rupee (SNRR) Account should be concurrent with the business contract and in no case should exceed:
a)
3 years.
b)
5 years.
c)
7 years.
d)
10 years.
93.
The Diamond Dollar Account (DDA) can be used for payments for purchase of:
a)
any goods and services.
b)
rough, cut and polished diamonds.
c)
real estate in India.
d)
personal travel expenses.
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