Money and Banking in India Class 12 Quiz | Money and Banking in India Class 12 Question and Answer for Practice

31. In Recurring Deposits,

1. a fixed sum is deposited every month
2. period of deposit is a fixed tenure
3. interest is paid at FDR rate
4. All of above

32. Interest on FDRs is compounded on

1. Monthly basis
2. Quarterly basis
3. Half yearly basis
4. Yearly basis

33. Interest on Savings Bank Deposits is paid

1. Every month
2. Quarterly
3. Half yearly
4. Yearly

34. Internet banking refers to

1. Operation of account through internet
2. Opening of account through ATM
3. Both a and b
4. None of above

35. KYC means

1. Know your customer
2. Know your character
3. Both of above
4. None of above

36. Life insurance means

1. Insurance of human
2. Insurance of life of human and Cattle
3. Insurance of Life of Machines
4. All of above

37. Loans from money lenders are

1. With High rate of interest
2. No proper accounting
3. No transparency
4. All of above

38. Maximum amount of Cheque

1. Rs.100 crore
2. No limit
3. Rs.1 crore
4. None of above

39. Maximum tenure of Fixed Deposit is

1. 5 years
2. 7 years
3. 8 years
4. 10 years

40. MGNREGS stands for

1. Mahatma Gandhi National Rural Employment Generation Scheme
2. Mahatma Gandhi Nutrition and Rural Employment Generation Scheme
3. Mahatma Gandhi National Rural Employment Guarantee Scheme
4. None of above

41. Minimum age required to open SB account in the bank

1. 8 years
2. 10 years
3. 12 years
4. None of above

42. Mutilated notes

1. should be burnt away
2. should be thrown away
3. can be exchanged at Bank
4. None of above

43. Nomination can be done in

1. Savings Bank account
2. Recurring Deposit account
3. Fixed Deposit account
4. All of above

44. Nomination once done can

1. Not be cancelled
2. Be cancelled
3. Not be changed
4. None of above

45. NRI means

1. Non Rural Individuals
2. Non Rural Immigrants
3. Non Resident Indian
4. None of above