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

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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

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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

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4. Who can work as a Banking Correspondent?

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

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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

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

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

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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

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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

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

[A] Airtel
[B] FINO
[C] YONO
[D] Reliance

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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

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