19 - Banking Correspondents

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on Banking Correspondents for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Bank

1. When was the Banking correspondent scheme launched by RBI?

[A] 2002
[B] 2005
[C] 2001
[D] 2006

Show Answer

2. What was the objective behind the Banking correspondent scheme?

[A] Taking banking to the remotest areas
[B] Helping in the process of Financial inclusion
[C] Both a and b
[D] None

Show Answer

3. Which of the following activities can be undertaken by a Business Correspondent?

[A] Selling mutual fund products
[B] Selling Pension products
[C] Extending small credit on behalf of the banks
[D] All of the above

Show Answer

4. Who can work as a Banking Correspondent?

[A] Individuals
[B] NGOs
[C] Micro-finance Institutions
[D] All of the above

Show Answer

5. Which of these kinds of deposits can be offered by Banking Correspondents?

[A] Small Savings Accounts
[B] Fixed Deposits
[C] Recurring Deposits
[D] All of the above

Show Answer

6. When did the RBI allowed for the first time to open ultra small branches?

[A] 2004
[B] 2009
[C] 2012
[D] 2014

Show Answer

7. Who among the following cannot become a BC?

[A] Krishi Vigyan Kendras
[B] Khadi and Village Industries units
[C] Community based organisations
[D] All of the above can become a BC

Show Answer

8. What is the other name by which Banking correspondents are known as?

[A] Bank Saathi
[B] Bank Humraahi
[C] Bank Daata
[D] Bank Dost

Show Answer

9. Which is India’s largest Banking Correspondent company?

[A] Airtel
[D] Reliance

Show Answer

10. As per RBI guidelines, Ultra Small Branches may be set up between the base branch and BC locations at how much distance?

[A] 3-4 Kms
[B] 20-25 Kms
[C] 30-35 Kms
[D] 18-20 Kms

Show Answer


Kindly help us to keep GKToday updated and error free. Use this form to report error or outdated information in questions. We shall rectify asap...