Money and Banking in India Class 12 Multiple Choice Questions and Answers

41. Minimum age required to open SB account in the bank

1. 8 years
2. 10 years
3. 12 years
4. None of above

42. Mutilated notes

1. should be burnt away
2. should be thrown away
3. can be exchanged at Bank
4. None of above

43. Nomination can be done in

1. Savings Bank account
2. Recurring Deposit account
3. Fixed Deposit account
4. All of above

44. Nomination once done can

1. Not be cancelled
2. Be cancelled
3. Not be changed
4. None of above

45. NRI means

1. Non Rural Individuals
2. Non Rural Immigrants
3. Non Resident Indian
4. None of above

46. PAN means

1. A kind of utensil
2. Primary Account Number
3. Permanent Account Number
4. None of above

47. PAN number is required for

1. Deposits less than Rs.50,000/-
2. Deposits in excess of Rs.1 lac
3. Deposits Rs.50,000/- and above
4. All transactions

48. Payment of cheque can be stopped by

1. Beneficiary
2. Nominee
3. Drawer of cheque
4. All of above

49. PMJDY LIC Insurance of Rs.30,000/- is available for first time accounts opened

1. On 15th August 2014
2. On 26th January 2015
3. Between 15th August 2014 and 26th January 2015
4. None of above

50. PPF means

1. Pension Planning Funds
2. Person having Pension Facilities
3. Public Provident Fund
4. Permanent Practitioners Forum