Banking Awareness Trivia - 15 Important Questions

1. A savings account can be opened and operated in joint names.

2. A partnership firm can open a savings account with post offices.

3. if a fixed deposit is not claimed by the depositor after the due date, the bank can forfeit the amount.

4. When the banker finds the account of the customer undesirable or unremunerative he can close the account immediately and remit the balance in the account by a cheque.

5. The banker enjoys special status in as much as he need not repay his depositors unless a demands is made on him.

6. A traveller's cheque is a cheque issued by a traveller.

7. Safe deposit lockers can be rented by banks only to single persons.

8. An overdraft means the amount drawn in excess over the sanctioned amount.

9. Only immovable properties can be mortgaged.

10. A bank cannot give loan against its own fixed deposits.

11. The banker can sue the guarantor even if he has not exhausted all his recourse against the borrower.

12. All regional rural banks are scheduled banks.

13. Nationalization of banks first took place in 1969.

14. The licence issued to a commercial bank can be subsequently cancelled by RBI.

15. SIDBI's headquarter is located at Lucknow.

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