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Banking Awareness Quiz – Set 127

By
Aruna
-

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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. ELSS stands for?
    A. Early Linked Savings Scheme
    B. Equity Linked Savings Scheme
    C. Earned Linked Savings Scheme
    D. Eligible Linked Savings Scheme
    E. Every Linked Savings Scheme
    B. Equity Linked Savings Scheme
    Explanation:
    ELSS – Equity Linked Savings Scheme

  2. It is a type of diversified equity mutual fund (MF), which is qualified for tax exemption under section 80C of the Income Tax Act is known as?
    A. PPF
    B. ELSS
    C. RD
    D. All of these
    E. None of these
    B. ELSS
    Explanation:
    ELSS is a type of diversified equity mutual fund (MF), which is qualified for tax exemption under section 80C of the Income Tax Act

  3. Which of the following is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968?
    A. PPF
    B. ELSS
    C. RD
    D. All of these
    E. None of these
    A. PPF
    Explanation:
    Benefits:
    The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968.

  4. Which is a common Internet Infrastructure that enables the Depository Participants (DPs) to provide depository services to their clients?
    A. SPEED-e
    B. Fast-e
    C. Send-e
    D. Settlement-e
    E. All of these
    A. SPEED-e
    Explanation:
    SPEED-e is a common Internet Infrastructure that enables the Depository Participants (DPs) to provide depository services to their clients.

  5. The users of SPEED-e can also check latest balances and transactions in their demat accounts through a facility called?
    A. SPEED-e
    B. Fast-e
    C. Send-e
    D. Settlement-e
    E. IDEAS
    E. IDEAS
    Explanation:
    The users of SPEED-e can also check latest balances and transactions in their demat accounts through a facility called IDEAS.

  6. The scheme is fully guaranteed by the
    A. RBI
    B. NABARD
    C. GOI
    D. NSDL
    E. All of these
    C. GOI
    Explanation:
    The scheme is fully guaranteed by the Central Government.

  7. A minimum yearly deposit of ______  is required to open and maintain a PPF account.
    A. Rs. 100
    B. Rs. 1000
    C. Rs. 5000
    D. Rs. 500
    E. All of these
    D. Rs. 500
    Explanation:
    A minimum yearly deposit of Rs.500 is required to open and maintain a PPF account.

  8. A PPF account holder can deposit a maximum of ?
    A. 1.5 Lakh
    B. 2.5 Lakh
    C. 1 Lakh
    D. 3.5 Lakh
    E. All of these
    A. 1.5 Lakh
    Explanation:
    A PPF account holder can deposit a maximum of Rs 1.5 lakh in his/her PPF account

  9. The amount can be deposited in lump sum or in a maximum of _____ installments per year.
    A. 6
    B. 3
    C. 4
    D. 12
    E. All of these
    D. 12
    Explanation:
    The amount can be deposited in lump sum or in a maximum of 12 installments per year.

  10. Lock in Period of PPF account is?
    A. 5 years
    B. 10 years
    C. 15 years
    D. 20 years
    E. All of these
    C. 15 years
    Explanation:
    There is a lock-in period of 15 years and the money can be withdrawn in full after its maturity period





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