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WorksheetsCash Remittance and Key Custody
Total questions: 28
Worksheet time: 14mins
What is the maximum cash limit permitted for a remittance carried by two staff members on a Motorcycle/Scooter without the mandatory accompaniment of an armed guard?
₹ 25 lakhs
₹ 50 lakhs
₹ 10 lakhs
₹ 5 lakhs
At what minimum cash remittance amount does the accompaniment of at least one armed guard become a mandatory requirement, irrespective of the mode of transport?
Above ₹ 25.00 lakh
Above ₹ 1.00 crore
Above ₹ 200 lakh
Above ₹ 50.00 lakh
If a cash remittance is made using a Cash Van/Car/Four-Wheeler with two armed guards, what is the maximum permitted cash limit?
₹ 200 lakh
₹ 100 lakh
₹ 500 lakh
₹ 10 crore
The duplicate set of cash keys must be deposited in a sealed cover with the nearby branch of the bank itself or the State Bank of India. What is the mandatory frequency for the removal of these duplicate keys from safe custody?
Once in every two year, during the annual audit.
Only when the original keys are lost or damaged.
Every third year, during the handing over of charge.
In whose personal custody must the Key Register, containing details of key numbers and the safes/cabinets they relate to, be kept?
Head Cashier
The officer holding the second set of keys
Branch Head
Dy. Branch Head/Officer
When the duplicate set of strong room keys is delivered from safe custody, who are the two individuals to whom the keys are deliverable?
The Branch Head and the Officer holding the second original key.
The Branch Head/Dy. Branch Head/Officer and the Head Cashier/Cashier.
Any two persons from option B, one of whom will be the Head Cashier/Cashier.
The incoming and outgoing Branch Heads only.
What is the prescribed minimum frequency for the review and updation of KYC documents for an individual customer categorized as Low Risk?
At least once in 2 years.
At least once in 5 years.
At least once in 10 years.
At least once in 6 months.
Which specific action is mandated by the policy when the bank identifies an account belonging to a company that has been struck off by the Registrar of Companies (ROC)?
Permit only credit transactions to facilitate recovery of dues.
Report the company to the MCA portal for re-verification.
Operations in the account should not be permitted, and a debit freeze should be effected immediately.
The account can be permitted for operation for a maximum of 6 months under enhanced monitoring.
The verification of the Company Identification Number (CIN) from the MCA portal is vital for identifying which specific type of non-compliant entity?
Dormant Company.
Shell Company.
Non-Banking Financial Company (NBFC).
Government Undertaking.
The RBI mandate for banks to allot a Unique Customer Identification Code (UCIC) to all customers is primarily aimed at enhancing the bank's approach to:
KYC Documentation standardization.
Risk profiling of customers.
NPA resolution tracking.
Aadhaar and PAN linkage.
Non-Profit Organizations (NPOs) and Non-Governmental Organizations (NGOs) are generally categorized into which risk category for monitoring purposes?
(a)
For note sorting machines to be deemed fit for use in issuing notes to the public, what is the mandatory requirement regarding Non-Issuable Defects (NIDs)?
The machine must detect Mutilated and Soiled notes only.
The machine must detect all NIDs and authenticity.
The machine must detect only counterfeit/forged notes.
The machine must sort notes into at least four different categories.
What is the mandatory action required to be performed on any note identified as a Potentially Counterfeit/Forged (PCF) note?
The note must be cancelled and destroyed by the Head Cashier.
The note must be remitted back to the currency chest.
The note must be branded with a "counterfeit stamp" and reported.
The note must be exchanged with a clean note for the customer.
Which of the following is categorized as a Non-Issuable Defect (NID) in currency notes?
Minor folding or creasing of notes.
Notes with unauthorized writing or graffiti.
Slightly soiled notes that are otherwise structurally intact.
Notes with the customer's signature as a mark of guarantee.
Which of the following CMS products is correctly classified under Payment Products?
Bharat Bill Payment Services as BBPOU.
Virtual Account Mode - NEFT/RTGS/IMPS.
Bulk Cheque Writing services.
ACH Credit transactions as Destination Bank.
Which of the following NPCI-related CMS products is correctly classified under ACH clearing activities?
E-mandate as sponsor Bank.
Automated Invoice Financing (Dealer Finance).
ACH Debit transactions as Sponsor Bank.
Payment Gateway (Debit Card/Credit Card/Net Banking).
What is the stipulated period for the preservation of records pertaining to LCC (Local Cheque Collection) and UCC (Upcountry Cheque Collection)?
5 years.
10 years.
15 years.
Indefinitely.
KYC documents pertaining to customer identification and verification must be preserved for what duration?
10 years after the account is closed.
5 years after the business relationship ends.
Indefinitely.
Until the next mandatory review is completed.
Which of the following is a key precaution required when handing over the contents of a deceased customer's Safe Deposit Locker to the survivor(s)/nominee(s)?
Insisting on a notarized declaration from all legal heirs waiving their claim.
Requiring the nominee to pay the outstanding rent for the next five years.
Informing the survivor(s)/nominee(s) that they receive access only as a trustee of the legal heirs.
Permitting removal of contents only after obtaining an Indemnity Bond from the survivor/nominee.
What mandatory step must the branch take before permitting the removal of articles from a deceased customer's locker by the survivor(s)/nominee(s)?
Obtain a succession certificate from a competent court.
Obtain approval from the Regional Office.
Prepare an inventory list of all articles in the locker.
Ensure all outstanding bank dues are recovered from the account.
Before granting access to a deceased locker hirer's locker, the bank must make diligent efforts to determine if there is any order from a competent court restraining the bank from giving access. Where must the details of such a court order be recorded if found?
In the bank's records/register
In the customer's passbook
On the locker door
In the RBI's official website
When there is a change in officials holding cash keys, what is the mandatory immediate compliance step for the incoming officials?
Obtain a key handover certificate from the Branch Head.
Initial against each key number in the Key Register for having taken it over.
Conduct a full physical verification of the cash balance.
Obtain fresh keys from the safe manufacturer.
The Safe Deposit Receipt (SDR) for the duplicate set of cash keys must be kept:
Inside the strong room, under joint custody.
With the Branch Head outside the strong room and safe.
With the Head Cashier inside the safe.
Affixed to the outside of the safe deposit cover containing the duplicate keys.
Which of the following is not eligible to hold one of the original cash/strong room keys under the policy's joint custody provision?
A. Branch Head.
B. Dy. Branch Head.
C. Head Cashier.
D. Branch Accountant.
For cash remittances being carried On Foot by two staff members, what is the maximum permissible cash limit without an armed guard?
₹ 2 lakhs
₹ 1 lakh
₹ 5 lakhs
₹ 10 lakhs
Which of the following scenarios constitutes a High-Risk category customer classification?
Partnership firm with stable business and low volume turnover.
Educational institution receiving government grants.
Politically Exposed Persons (PEPs) or their relatives.
A High Net Worth Individual (HNI) maintaining only a savings account.
In the context of the Clean Note Policy, the primary objective is to:
Reduce the cost of note printing and distribution.
Facilitate faster acceptance of foreign currency.
Ensure that only clean and fit notes are put back into circulation.
Increase the usage of digital transactions over cash.
Which one of the following is a mandatory compliance requirement for a company opening an account?
Submission of an Aadhaar card for all directors.
Verification of the company's financial statements for the last three years.
Invariably obtain and feed the CIN No. in Finacle while creating the CIF ID.
