Banking Awareness Quiz – Set 110

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. Which of the following is/are feature(s) of e-stamping?
   A. Cost Savings
   B. Security
   C. User-friendly
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   D. All of the Above
   Explanation:
   Features:
   Easy accessibility and faster processing
   Security
   Cost savings
   User friendly
   
   
2. Which of the following can be used to check the authenticity of the Certificate?
   A. PAN Number
   B. Unique Identification Number
   C. A/C Number
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   B. Unique Identification Number
   Explanation:
   UIN is a Unique system generated number mentioned on the e-Stamp Certificate. Anybody, having the Unique Identification Number, can check the authenticity of the Certificate
   
   
3. What are the different modes of paying stamp duty in e-Stamping system?
   A. RTGS
   B. NEFT
   C. Pay order
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   D. All of the Above
   Explanation:
   Client can pay stamp duty amount through the following modes
   Cash
   Cheque
   Demand Draft
   Pay Order
   RTGS
   NEFT
   Account to Account transfer.
   
   
4. In which States/UT s e-Stamping is currently operational?
   A. Gujarat
   B. Karnataka
   C. Punjab
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   D. All of the Above
   Explanation:
   e-Stamping is currently operational in the States/UT s of Gujarat, Karnataka, NCT Delhi, Assam, Tamil Nadu, Rajasthan, Himachal Pradesh, Uttarakhand, UT of Dadra & Nagar Haveli, UT of Daman & Diu, Puducherry, Uttar Pradesh, Chhattisgarh, Jharkhand, Jammu & Kashmir, Punjab and Chandigarh.
   
   
5. Which of the following is a computer based application and a secured way of paying Non-Judicial stamp duty to the Government?
   A. Commercial Papers
   B. E-stamp
   C. Treasury bill
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   B. E-stamp
   Explanation:
   e-Stamping is a computer based application and a secured way of paying Non-Judicial stamp duty to the Government.
   
   
6. Stamp Duty collected by the States can be broadly divided into _______ categories
   A. One
   B. Two
   C. Three
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   B. Two
   Explanation:
   Stamp Duty collected by the States can be broadly divided into two categories, viz., Stamp Duty paid under the Indian Stamp Act, 1899 and Stamps used in payment of fees under the Court-fees Act 1870.
   
   
7. Which of the following details can be used to verify the authenticity of an e-Stamp?
   A. Certificate Number (UIN)
   B. Stamp Duty Type (Description of Document)
   C. 6 character alphanumeric string
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   D. All of the Above
   Explanation:
   An e-Stamp can be verified online by clicking on verify e-Stamp certificate and entering the required details i.e
   State
   Certificate Number (UIN)
   Stamp Duty Type (Description of Document)
   Certificate Issue Date
   6 character alphanumeric string
   
   
8. Which of the following payment should be initiated only after consulting nearest e-Stamping center?
   A. RTGS
   B. NEFT
   C. Pay order
   D. Both (A) and (B)
   E. Both (B) and (C)
   
   Answer & Explanation

   D. Both (A) and (B)
   Explanation:
   RTGS / NEFT payment should be initiated only after consulting nearest e-Stamping center.
   
   
9. Stamps used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply And Sale Rules, 1934, can be broadly divided into _______ categories.
   A. One
   B. Two
   C. Three
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   B. Two
   Explanation:
   Stamps used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply And Sale Rules, 1934, can be broadly divided into two categories.
   Impressed stamps
   Adhesive stamps.
   
   
10. SHCIL will accept Stamp Duty Payment in ______ only
    A. US$
    B. Euro
    C. INR
    D. None of the Above
    E. All of the Above
    
    Answer & Explanation

    C. INR
    Explanation:
    SHCIL will accept Stamp Duty Payment in Indian Rupees (INR) only.