Questions & Answers on the topic of Savings Bank & GSPR 2018 -1
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor
1. The Government Savings Promotion Act was enacted in which year?
A) 2018 B) 2019 C) 1873 D) 2021 Answer: C) 1873
Ans. A.2018
2. When did the General Savings Promotion Rules (GSPR) 2018 become effective?
A) December 12, 2019 B) April 9, 2021 C) October 5, 2018 D) January 1, 2018
Answer: C) October 5, 2018
3. According to GSPR-2018, within how many months from the date of opening an account must a PAN card be submitted to prevent the account from ceasing to be operational?
A) 3 months B) 6 months C) 12 months D) 1 month
Answer: B) 6 months
4. Can a single account be converted into a joint account or vice versa under GSPR-2018?
A) Yes B) No C) Only with special permission D) Only if the account is less than 1 year old
Answer: B) No
5. What is the maximum number of individual persons a depositor can nominate for an account?
A) One B) Two C) Three D) Four
Answer: D) Four
6. For a literate depositor, how many witnesses are required for nomination?
A) One B) Two C) Three D) Not required
Answer: D) Not required
7. What is the fee for the transfer of an account?
A) Rs. 50 B) Rs. 100 C) Rs. 100+GST D) No fee
Answer: C) Rs. 100 +GST
8. What is the charge for the issue of a duplicate passbook?
A) Rs. 100 B) Rs. 50 C) Rs. 20 D) Rs. 10
Answer: B) Rs. 50
9. What is the fee for the cancellation or change of nomination?
A) Rs. 100 B) Rs. 50 C) Rs. 20 D) No fee
Answer: D) No Fee
10. What is the fee for the issue of a statement of account or deposit receipt?
A) Rs. 10 per case B) Rs. 20 per case C) Rs. 50 per case D) Rs. 100 per case
Answer: B) Rs. 20 (each case)
11. What is the fee for issuing a passbook in lieu of a lost or mutilated certificate?
A) Rs. 50 B) Rs. 20 C) Rs. 10 per registration D) No fee
Answer: C) Rs. 10 per registration
12. How many free cheque leaves are issued in a Savings Bank Account in a calendar year?
A) 5 leaves B) 10 leaves C) 15 leaves D) 20 leaves
Answer: B) 10 leaves
13. What is the charge for additional cheque leaves beyond the free limit in a Savings Bank Account?
A) Rs. 1 per leaf B) Rs. 2 per leaf C) Rs. 5 per leaf D) No charge
Answer: B) Rs. 2/leaf
14. What is the enhanced withdrawal limit per individual at GDS Branch Post Offices?
A) Rs. 5,000/- B) Rs. 10,000/- C) Rs. 20,000/- D) Rs. 50,000/-
Answer: C) Rs. 20,000/-
15. What is the enhanced deposit transaction limit in an account in a day in Branch Post Offices?
A) Rs. 10,000/- B) Rs. 20,000/- C) Rs. 50,000/- D) Rs. 1,00,000/-
Answer: C) Rs. 50,000/-
16. What is the rate of income tax (TDS) for non-ITR filers if the aggregate cash withdrawal exceeds Rs. 20 Lakh but does not exceed Rs. 1 Crore during a FY?
A) 1% of amount exceeds Rs. 20 lakh B) 2% of amount exceeds Rs. 20 lakh C) 5% of amount above Rs. 1 crore D) 10% of amount above Rs. 20 lakh
Answer: B) 2% of amount exceeds Rs. 20 lakh.
17. What is the rate of income tax (TDS) for non-ITR filers if the cash withdrawal exceeds Rs. 1 Crore during a FY?
A) 2% of amount above Rs. 1 crore B) 5% of amount above Rs. 1 crore C) 10% of amount above Rs. 1 crore D) 20% of amount above Rs. 1 crore
Answer: B) 5% of amount above Rs. 1 crore.
18. What is the rate of interest for a Post Office Savings Account?
A) 3% per annum B) 4% per annum C) 5% per annum D) 6% per annum
Answer: B) 4% per annum
19. What is the minimum deposit amount to open a Post Office Savings Account?
A) Rs. 100 B) Rs. 250 C) Rs. 500 D) Rs. 1000
Answer: C) Rs. 500
20. What is the minimum balance to be maintained in a Post Office Savings Account?
A) Rs. 100 B) Rs. 250 C) Rs. 500 D) Rs. 1000
Answer: C) Rs. 500
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