Banking Awareness Study Material 2017 – Set 18

Banking Awareness Question and Answer:

1. According to the Income Tax act of 1961, the age of Super senior Citizens should be-
Answer : 80 years

2. Part of company’s earning or profit which is paid out to share holders is known as _______
Answer : Dividend

3. The economic concepts is categorised on the basis of Current Account or Capital Account or both?
Answer : Balance of Payments

4. When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called-
Answer : Budgetary Deficit

5. Sukanya Samriddhi Account can be opened up to age of ________ years only from the date of birth.
Answer : Ten years

6. The cards is free from credit risk is
Answer : Debit Card

7. A type of economy that still uses various means of social support, is called-
Answer : Traditional Economy

8. In the field of banking, what does ADF stand for?
Answer : Automated Data Flow

9. What is the duration of Public Provident Fund (PPF) account?
Answer : 15 years

10. Under which Act are the KYC norms implemented-
Answer : Prevention of Money Laundering Act, 2002

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