Q91. What is a key benefit of using a RuPay card?
a) Access to international ATM networks
b) Rewards points for transactions
c) Domestic usage for shopping and ATM withdrawals
d) Insurance coverage
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Correct Answer: c) Domestic usage for shopping and ATM withdrawals
Explanation: A RuPay card is primarily used for domestic transactions, including shopping and ATM withdrawals within India, offering a secure and convenient way to manage funds.
Q92. What type of account offers a high rate of interest for a fixed tenure?
a) Savings Account
b) Current Account
c) Fixed Deposit Account
d) Recurring Deposit Account
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Correct Answer: c) Fixed Deposit Account
Explanation: A Fixed Deposit Account offers a higher rate of interest compared to savings accounts for a fixed tenure, making it a preferred choice for secure and higher returns on savings.
Q93. Which of the following is a key feature of the Pradhan Mantri Jan Dhan Yojana (PMJDY)?
a) High-interest loans
b) Insurance cover
c) Zero-balance accounts
d) Investment in bonds
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Correct Answer: c) Zero-balance accounts
Explanation: The Pradhan Mantri Jan Dhan Yojana (PMJDY) provides zero-balance accounts, making banking accessible to individuals who may not be able to maintain a minimum balance.
Q94. What is the primary aim of the Pradhan Mantri Mudra Yojana (PMMY)?
a) To support large corporations
b) To provide micro-financing to small businesses
c) To offer scholarships
d) To fund government projects
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Correct Answer: b) To provide micro-financing to small businesses
Explanation: The Pradhan Mantri Mudra Yojana (PMMY) aims to provide micro-financing to small and micro businesses, supporting their growth and development.
Q95. What is a key benefit of password security in online banking?
a) Increased loan limits
b) Enhanced protection against unauthorized access
c) Higher interest rates
d) Free credit scores
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Correct Answer: b) Enhanced protection against unauthorized access
Explanation: Password security in online banking ensures that accounts are protected from unauthorized access, safeguarding personal and financial information.
Q96. What is the key feature of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
a) Accident insurance
b) Life insurance coverage
c) Retirement pension
d) Health insurance
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Correct Answer: b) Life insurance coverage
Explanation: The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers life insurance coverage, providing financial support to the beneficiaries in case of the policyholder’s death.
Q97. What is the main advantage of using an ATM card for banking transactions?
a) High interest rates
b) Access to account funds and making payments
c) Fixed deposit facilities
d) Insurance benefits
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Correct Answer: b) Access to account funds and making payments
Explanation: An ATM card provides access to account funds for withdrawals, balance inquiries, and payments, offering convenience for everyday banking needs.
Q98. What type of account typically provides higher interest rates on deposited funds?
a) Savings Account
b) Current Account
c) Fixed Deposit Account
d) Recurring Deposit Account
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Correct Answer: c) Fixed Deposit Account
Explanation: Fixed Deposit Accounts typically offer higher interest rates compared to savings accounts, making them suitable for individuals seeking secure, higher returns on their deposits.
Q99. Which scheme offers an affordable insurance plan for accidental death and disability?
a) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
b) Atal Pension Yojana (APY)
c) Pradhan Mantri Mudra Yojana (PMMY)
d) Pradhan Mantri Suraksha Bima Yojana (PMSBY)
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Correct Answer: d) Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Explanation: Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers affordable insurance coverage for accidental death and disability, providing financial protection at a low premium.
Q100. What does a Fixed Deposit account typically offer?
a) Unlimited withdrawals
b) High-interest rates for a fixed period
c) Overdraft facilities
d) Free insurance coverage
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Correct Answer: b) High-interest rates for a fixed period
Explanation: A Fixed Deposit account provides high-interest rates on deposited funds for a fixed tenure, making it an attractive option for secure savings with better returns.