Introduction to Banking

Q. Which of the following is / (are) the function of a bank?

1. Bank issues yearly tax invoice slip of the account holder.
2. Bank issues aadhaar card of the account holder.
3. Bank issues monthly salary slip of the account holder
4. A person can withdraw or deposit his cash in a bank.

Q. ATM stands for:

Q. Which of the following cannot be used for cash-less transaction?

1. Debit card
2. Credit card
3. PAN card
4. Cheque book

Q. What is the purpose of opening a bank account?

1. It makes cash deposition and withdrawal easy and safe.
2. It helps to keep the money safe and in some cases also provides interest on the total account balance.
3. It provides detailed transactions summary.
4. With the help of a bank account we can enroll for aadhaar card

Q. Which of the following is a component of bank?

1. Account
2. ATM card
3. Cheque book
4. Passbook

Q. Which of the following is / are type(s) of a bank account?

1. Savings Account
2. Current Account
3. Recurring Deposit Account
4. Provident fund account

Q. Ram has ₹1000 in his bank account. After paying his water bill, the amount left in his bank account was ₹700. How much did he pay as water bill?

1. ₹250
2. ₹300
3. ₹700
4. ₹1000

Q. A bank is a government recognized organisation that facilitates the transaction of money.

1. False
2. True

Q. Pair the correct simple interest rate with the interest on a borrowed amount of ₹1000 for one year.

1. 2%
2. ₹70
3. 7%
4. 5%
5. ₹20
6. ₹50
7. ₹10
8. 1%

Q. Cashless transactions can be done while shopping using ______ .​

1. Debit Card
2. Credit Card
3. UPI
4. All