Banking Exam IBPS PO 3

Question 1

Which type of account in India allows joint operation where 'Either or Survivor' condition means:

Accepted Answer

Either holder can operate the account, and upon death of one, the survivor gets full rights

Answer

In an 'Either or Survivor' joint account, either holder can transact independently, and the surviving holder inherits full rights upon the other's death.

Question 2

The 'Pradhan Mantri Jan Dhan Yojana' (PMJDY) primarily aims to:

Accepted Answer

Ensure universal access to banking facilities for every household

Answer

PMJDY is a financial inclusion scheme launched in 2014 to provide every Indian household access to a bank account with basic banking services.

Question 3

In reasoning ability, a 'syllogism' question tests the candidate's ability to:

Accepted Answer

Draw logical conclusions from given statements regardless of real-world truth

Answer

Syllogisms require candidates to evaluate logical conclusions from premises based purely on logical rules, not factual accuracy.

Question 4

Which among the following is classified as a 'Non-Performing Asset' (NPA)?

Accepted Answer

A loan where interest or principal has been overdue for more than 90 days

Answer

An asset becomes NPA when interest or principal payment has remained overdue for a period of more than 90 days for a term loan.

Question 5

The headquarters of the Reserve Bank of India (RBI) is located in:

Accepted Answer

Mumbai

Answer

The Reserve Bank of India's central office and headquarters have been located in Mumbai since 1937.

Banking Exam Practice Test

Banking Exam Practice Test

Banking Exam IBPS PO 3