Balance in deposit accounts which are not operated for at least ........ years are to be transferred to the RBI. ?->(Show Answer!)

1. Balance in deposit accounts which are not operated for at least ........ years are to be transferred to the RBI.

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.A large majority of the poor in India are outside the formal banking system. The policy of financial inclusion sets out to remedy this by making available a basic banking ‘no frills’ account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population. However, the mere opening of a bank account in the name of every household or adult person may not be enough, unless these accounts and financial services offered to them are used by the account holders. At present, commercial banks do not find it viable to provide services to the poor especially in the rural areas because of huge transaction costs, low volumes of savings in the accounts, lack of information on the account holder, etc. For the poor. interacting with the banks with their paper work, economic costs of going to the bank and the need for flexibility in their accounts, make them turn to other informal channels or other institutions. Thus, there are constraints on both the supply and the demand side.Till now, banks were looking at these accounts from a purely credit perspective. Instead, they should look at this from the point of view of meeting the huge need of the poor for savings. Poor households want to save and, contrary to the common perception, do have the funds to save, but lack control. Informal mutual saving systems like the Rotating Savings and Credit Associations (ROSCAs), widespread in Africa, and ‘thrift and credit groups’ in India demonstrate that poor households save. For the poor household, which lack access to the formal insurance system and the credit system, savings provide a safety net and help them tide over crises. Savings can also keep them away from the clutches of moneylenders, make formal institutions more favourable to lending to them, encourage investment and make them shift to more productive activities, as they may invest in slightly more risky activities which have an overall higher rate of return.Research shows the efficacy of informal institutions in increasing the savings of the small account holders. An MFI in the Philippines, which had existing account holders, was studied. They offered new products with ‘commitment features’. One type had withdrawal restrictions in the sense that it required individuals to restrict their right to withdraw any funds from their own accounts until they reached a self-specified and documented goal. The other type was deposit options. Clients could purchase a locked box for a small fee. The key was with the bank and the client has to bring the box to the bank to make the deposit. He could not dip into the savings even if he wanted to. These accounts did not pay extra money and were illiquid. Surprisingly, these products were popular even though these had restrictions. Results showed that those who opted for these accounts with restrictions had substantially greater savings rates than those who did not. The policy of financial inclusion can be a success if financial inclusion focuses onboth saving needs and credit needs, having a diversified product portfolio for the poor but recognising that self-control problems need to be addressed by having commitment devices. The products with commitment features should be optional. Furthermore transaction costs for the poor could be cut down, by making innovative use of technology available and offering mobile vans with ATM and deposit collection features which could visit villages periodically.What is the aim of the financial inclusion policy ?
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MCQ-> Study the following information carefully and answer the question given below Following are the conditions for selecting Accounts Officer in the Organization The candidate must (i)be at least 21 yr and not more than 26 yr as on 1.11.2011 (ii)be a commerce graduate (B.com) with atleast 55% marks (iii)have work experience of at least 2 yr in the Accounts Department of an organization (iv)have secured at least 50% marks in the Selection process In the case of a candidate who fulfils all the conditions except (a)at (i)above but at least 21 yr old and not more than 28 yr old and has work experience of 5 yr as Accounts Assistant in an organization his/her case is to be referred to GM-Accounts (b)at (ii)above but has secured at least 50% marks graduation and has secured at least 55% marks in selection process his/her case is to be referred VP-Accounts.In each question below details of one candidate are provided You have to take one of the following courses of actions based on the conditions given above and the information provided in each question and mark the number of that course of action as your answer You are not to assume All these cases are given to you as on 1.11.2011 Give answer a:If the case is to be referred to GM-Accounts b:If the case is to be referred to VP-Accounts c:If the candidate is to be selected d:If the candidate is not to be selected e:If the data provided are inadequate to taken a decision Now read the information provided in each question and mark your answer accordinglyUmesh Choksi was born on 25th November, 1989 He has secured 60% aggregate marks in B.com and 65% mark in the Selection Process He has been working in the Accounts Department of an organization for the past 3 yr
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MCQ-> Study the following information carefully and answer the question given below: Following are the conditions for selecting Senior Manager Credit in a bank The candidate must (i) be a graduate in any discipline with at least 60 per cent marks (ii) have post-qualification work experience of at least ten years in the Advances Section of a bank. (iii) be at least 30 years and not more than 40 years as on 1.4.2010 (iv) have secured at least 40 per cent marks in the Group Discussion (v) have secured at least 50 per cent marks in the Interview In the case of a candidate who satisfies all the conditions EXCEPT (A) at (i) above but has secured at least 50 per cent marks in graduation and at least 60 per cent marks in post- graduation in any discipline the case is to be referred to the General Manager Advances (B) at (ii) above but has total post qualification work experience of at least seven years out of which at least three years as Manager Credit in a bank the case is to be referred to the Executive Director In each question below details of one candidate are given you have to take one of the following courses of action based on the information provided and the conditions and sub conditions given above and mark the number of that course of action as your answer You are not to assume anything other than the information provided in each question All these cases are given to you as on 01-04-2010Shobha Gupta has secured 50 per cent marks in the Interview and 40 per cent marks in the Group Discussion She has been working for the past eight years out of which four years as Manager Credit in a bank after completing her BA degree with 60 per cent marks She was born on 12th September 1978
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MCQ-> Study the following information carefully and answer the question given below: Following are the conditions for selecting Senior Manager General Banking in a bank: (i) have secured at least 60 percent marks in Std XII. (ii) have secured at least 55 percent marks in Graduation in any discipline (iii) have secured at least 60 percent marks in Post-graduate degree/diploma in Management/Economics/Statistics. (iv) be at least 25 years and not be more than 35 years as on 01.03.2010. (v) have post qualification work experience of at least 2 years as General Banking Officer in a bank. (vi) have secured at least 50 percent marks in written examination. (vii) have secured at least 40 percent marks in Personal Interview. In the case of a candidate who satisfies all the above conditions Except----- (a) at (iii) above but has secured at least 60 percent marks in CA or ICWA the case is to be referred to VP-Recruitment. (b) at (vii) above but have secured at least 65 percent marks in the written examination and at least 35 percent marks in the personal interview the case is to be referred to President Recruitment. In each question below are given details of one candidate You have to take one of the following courses of actions based on the information provided and the conditions and sub-conditions given above and mark the number of that course of action as your answer You are not to assume anything other than the information provided in each question All these cases are given to you as on 01.03.2010. Mark answer (a) if the data provided are inadequate to take a decision Mark answer (b) if the case is to be referred to VP- Recruitment Mark answer (c) if the case is to be referred to President Recruitment Mark answer (d) if the candidate is to be selected Mark answer (e) if the candidate is not to be selected.Kesav vora was born on 8th November 1978 He has secured 65 per cent marks in Std. XII and 60 per cent marks in Graduation He has secured 58 percent marks in M.A. Economics and 60 per cent marks in ICWA He has been working in a bank as generalist officer for the past two years after completing his education He has also secured 50 per cent marks in the written examination and 45 percent marks in personal interview.
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MCQ-> Following are the conditions for selecting Senior Manager-Credit in a bank. The candidate must:(i) be a graduate in any discipline with atleast 60 percent marks.(ii) have post qualification work experience of at least ten years in the Advances Section of a bank.(iii) be at least 30 years and not more than 40 years as on 1.4.2010.(iv) have secured at least 40 percent marks in the group discussion.(v) have secured at least 50 percent marks in interview.In the case of a candidate who satisfies all the conditions EXCEPT:(A) at (i) above but has secured at least 50 percent marks in graduation and at least 60 percent marks in post graduation in any discipline the case is to be referred to the General Manager Advances.(B) at (ii) above but has total post qualification work experience of at least seven years out of which at least three years as Manager-Credit in a bank, the case is to be referred to Executive Director.In each question below details of one candidate is given. You have to take one of the following courses of action based on the information provided and the conditions and sub-conditions given above and mark the number of that course of action as your answer. You are not to assume anything other than the information provided in each question. All these cases are given to you as on 01.04.2010.Shobha Gupta has secured 50 percent marks in the Interview and 40 percent marks in the Group Discussion. She has been working for the past eight years out of which four years as Manager-Credit in a bank after completing her B. A. degree with 60 percent marks. She was born on 12th September 1978.
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