IP Exam Daily Spark: Day 12 Consumer Protection Act, 2019

 IP Exam Daily Spark: Day 22
Objective Questions for Inspector Posts Departmental Exam
Government Savings Promotion Act, 1873.

21. The Central Government may make rules for carrying out the purposes of this Act. In which section is this power detailed?
 a. Section 3A b. Section 14 c. Section 15 d. Section 16

22. The Central Government may provide for which of the following matters in the rules under the Act? 
a. The non-accrual of interest on deposits when maximum limits are exceeded. b. The manner of calculation, frequency of payment, and rate of interest. c. The mode of making deposits, such as physical, electronic, or through other tools. d. All of the above.

23. Which of the following is considered an "existing" Savings Scheme in the Schedule?
 a. National Savings Scheme, 1987. b. Public Provident Fund Scheme. c. 5-year Prize Bonds. d. Indira Vikas Patras.

24. Which of the following is considered a "discontinued" Savings Scheme in the Schedule?

 a. Senior Citizens' Savings Scheme. b. Sukanya Samridhhi Account. c. National Savings Certificates (VIII Issue). d. 12-Year National Savings Certificates.

25. The provisions of the Act apply to any offence or contravention committed outside of India by any person. 

a. True b. False

26. What is the title of the Act that was omitted by the Finance Act, 2018?

 a. Act not to apply to deposits in Anchal Savings Bank. b. Act not to apply to deposits belonging to estates of European soldiers or deserters. c. Payment of married women's deposits. d. All of the above.

27. The term "executor" is defined as an executor as defined in clause (c) of section 2 of which Act?

 a. The Indian Succession Act, 1925. b. The Indian Trusts Act, 1882. c. The Indian Majority Act, 1875. d. The Indian Penal Code, 1860.

28. The long title of the Act was substituted by the Finance Act, 2018 (13 of 2018), s.114. What was the original long title?

 a. An Act to regulate and channelise the savings from the general public. b. An Act to amend the law relating to the payment of deposits in Government Savings Banks. c. An Act to regulate Government Savings Schemes. d. The Act does not specify an original title.

29. If a depositor dies and there is no nomination in force, what is the time limit for producing a probate of their will or letters of administration?

 a. Within one month of the death of the depositor. b. Within three months of the death of the depositor. c. Within six months of the death of the depositor. d. Within one year of the death of the depositor.

30. The Authorised Officer of a Government Savings Bank may take security from any person to whom he pays money under which section for the due administration of the money?

 a. Section 4 b. Section 4A, sub-section (4) c. Section 5 d. Section 6

31. A depositor who suffers from physical infirmity, including blindness, may operate and make a deposit through whom?

 a. The Authorised Officer. b. A literate individual whom he authorises. c. Their legal guardian. d. A family member.

32. The repeal of certain acts by this Act shall not prejudicially affect the interest of depositors who made deposits or were issued certificates before the commencement of Part I of Chapter VIII of the Finance Act, 2018. This is provided for in which section? 

a. Section 15 b. Section 16(2) c. Section 16(3) d. Section 14A

33. What is the legal status of an act done in "good faith" by an Authorised Officer or any other officer of the Central Government under this Act? 

a. They are liable for any damages caused. b. No suit or legal proceeding shall lie against them. c. They can be prosecuted for negligence. d. The Act provides no protection for such actions.

34. Which of the following is not included in the definition of "guardian"?

 a. Either of the parents. b. A legal guardian appointed by a court. c. A person entitled under the law to have the care of the property of a minor. d. A nominee designated by the minor.'

35. The Central Government may, by notification in the Official Gazette, include or omit or amend Savings Schemes in the Schedule. This power is found in: 

a. Sub-section (1) of Section 3A. b. Sub-section (2) of Section 3A. c. Section 15. d. Section 16.

36. An executor or administrator can recover the amount remaining in the hands of a person who received a payment under the Act, after deducting the amount of what?

 a. All debts or other demands lawfully paid or discharged by him in due course of administration. b. Any personal expenses. c. Legal fees. d. The cost of obtaining letters of administration.

37. What is the full title of the Act?

 a. The Government Savings Act, 1873. b. The Government Savings Bank Act, 1873. c. The Government Savings Promotion Act, 1873. d. The Government Savings Act, 1963.

38. According to the Act, a "depositor" is defined as: 

a. An individual who has an account in a Post Office Savings Bank. b. An individual by whom, or on whose behalf, money has been deposited in a Government Savings Bank. c. A person who holds a Government Savings Certificate. d. A person who is a guardian of a minor.

39. The Central Government, through any designated authority, has the power to call for what in relation to any account? 

a. The nominee's details. b. The depositor's personal information. c. Such information, documents, and evidence as it may deem necessary. d. A report on the account's transaction history.

40. When does a nomination referred to in sub-section (1) of Section 4 become void?

 a. If the nominee predeceases the depositor. b. If the depositor transfers the deposit. c. If the nominee is a minor. d. Both A and B.

Answer Keys 
21. c. Section 15.
22. d. All of the above.
23. b. Public Provident Fund Scheme.
24. d. 12-Year National Savings Certificates.
25. b. False.
26. d. All of the above.
27. a. The Indian Succession Act, 1925.
28. b. An Act to amend the law relating to the payment of deposits in Government Savings Banks.
29. b. Within three months of the death of the depositor.
30. b. Section 4A, sub-section (4).
31. b. A literate individual whom he authorises.
32. c. Section 16(3).
33. b. No suit or legal proceeding shall lie against them.
34. d. A nominee designated by the minor.
35. b. Sub-section (2) of Section 3A.
36. a. All debts or other demands lawfully paid or discharged by him in due course of administration.
37. c. The Government Savings Promotion Act, 1873.
38. b. An individual by whom, or on whose behalf, money has been deposited in a Government Savings Bank.
39. c. Such information, documents, and evidence as it may deem necessary.
40. d. Both A and B.