GSPR 2018 MCQ | Government Savings Promotion General Rules (GSPR) 2018 Quiz Questions and Answers | Post Office Exam MCQ Set [19]
MCQs On GSPR(General Savings Promotion Rules) 2018. Download GSPR 2018 MCQs in PDF.Multiple choice questions and answers (MCQs) for Postal Exams/LDCE IPO Exam/PS Group B Exam/LGO Exams/GDS to Postman/MTS/Mail Gaurd/PA/SA Exams in postal department.
Salient Features of GSPR (General Savings Promotional General Rules) 2018 Rules
1. Presentation of Passbook is mandatory while making withdrawal and closures.
2. An Illiterate or blind or visually challenged may open Joint Account with literate depositor.
3. Nomination is mandatory for all types of accts and cancel or change the existing nomination by paying Rs50+GST.
4. No fee up to 10 Chq leaves in a calendar year and thereafter Rs 2 per Chq leaves will be collected.
5. Cheque Dishonored Fee- Rs100+ GST.
6. Duplicate of PB issued at HO. No F.I.R needed. Duplicate pass book- Rs50+GST.
7. Transfer of Accounts will be done at HO only for HO and all SOs. Fee Rs100+GST.
8. If Applied for transfer given at any other HOs or SOs, application of transfer with document sent to Home Sol HO for transfer and AOF & KYC documents should be sent to SBCO. (CBS Manual).
9. If account is transferred and closed by the depositor, the mode of payment should be done through SB or cheque only.
10. Single account cannot be converted in to joint acct and vice versa except in the case of death of the depositor in joint account.
11. No interest shall be payable on an account opened or maintained or on a deposit made in contravention of rules.
12. ACG-17 for payment of commission to SAS/MPKBY Agents has been discontinued.
13. In SAS agent system, No commission will be paid on the investment thru agents where agent receipt Book number and Authority number not noted in SB 103.
14. Mentioning ASLASS number in RD Schedule is mandatory if it is not supplied, it should be filled with “Applied for”.
15. Cash Transaction up to Rs 50000/- shall be allowed at other SOLs in an account in a day.
16. No BPM shall accept cash deposit for more than Rs 50000/- in an account in a day.
17. In BOs, Deposits in PPF/SCSS/MIS/KVP/NSC are to be accepted by wdl form or by Cheque only.
18. In BOs, The limit of Withdrawal has been revised to Rs 20000/- per individual.
19. TDS of 2% on aggregate cash withdrawals in excess of Rs 20 lakhs in a year and TDS of 5 % on aggregate cash withdrawals in excess of Rs 1 crore ina year shall be applicable.
20. Payment of Interest and maturity value for (MIS, SCSS, and TD/RD/KVP/NSC) in to account holder’s bank account has been implemented in finacle through ECS outward credit functionality.
21. POs shall not allow investments thru Wdl form under SAS/MPKBY agency system for SB schemes.
22. In SAS agency system, Re-investment of maturity value thru Withdrawal form is allowed & investment by cash up to Rs 20000 or by Cheque.
23. Illiterate depositor can avail cheque facility only if have joint account with literate depositor.
24. Minor account operated by guardian can avail cheque facility.
25. Transfer of accounts is allowed for categories NSS 87 & 92 also in CBS offices (At HOs).
26. Messenger is allowed for payment after getting Form-12 along with KYC documents (Senior Citizen, illness, Differently abled) and” Authorization Accepted” remarks must write by SPM/APM.
27. In case of death of Minor, In SSA scheme - Guardian may claim the closure amount, but in PPF- Nominee may claim the closure amt. If nomination not registered, Legal Heir may claim the amount.
28. PM CARES FOR Children scheme” has been introduced from 29.10.2021 for child who has lost both parents or last surviving parent between 11.03.2020 to 31.12.2021 due to COVID-19 pandemic.
1. Government Savings Promotion General Rules 2018 came into force on
A5th October 2018
B 5th November 2018
C 6th October 2018
D 6th November 2018
2. Under which section of Government Savings Promotion Act 1873 Central Government makes the rules and framed GSPR 2018?
A Section 12
B Section 18
C Section 15
D Section 21
3. Joint Account means in GSPR 2018?
A account opened in the names of more than one and up to any individuals
B account opened in the names of more than one and up to five individuals
C account opened in the names of more than one and up to three individuals
D account opened in the names of more than one and up to four individuals
4 . “Non-resident Indian” means
A an individual being a citizen of India or a person of Indian origin who is not a ‘resident’ as per the provisions of the Income Tax Act, 1961
B an individual being a citizen of India or a person of Indian origin who is not a ‘resident’ as per the provisions of the Citizenship Act 1955
C an individual being a citizen of India or a person of Indian origin who is not a ‘resident’ as per the provisions of the Income Tax Act, 2020
Dan individual being a citizen of India or a person of Indian origin who is not a ‘resident’ as per the provisions of the Citizenship Act 1961
5. A Minor who has attained the age of ______ years may open and operate an account in accordance with the provisions of a Savings Scheme. ?
A Eighteen years
B Ten years
C Guardian can only opened on behalf of minor up to the age of eighteen years to minor
D None of these
6. The guardian of minor subsequently becomes Non-resident Indian during the period the account is in operation, the account may be_____
A continued till its maturity and the benefits available to the depositor in the said account shall be available only on repatriation basis
B continued till its maturity and the benefits available to the depositor in the said account shall be available only on non-repatriation basis
C account is deemed to be closed from the last day of the month preceding the month in which depositor becomes NRI
D None of these
7. An Account may be opened by the depositor either by visiting the Accounts Office in person or through permissible electronic modes including internet or mobile banking application of the respective Government Savings Bank in accordance with the procedure approved by ?
A RBI
B MOF
C DOP
D GOI
8. if an individual does not submit the Permanent Account Number at the time of opening an account, he shall submit the same to the Accounts Office within a period of ______ from the date of the opening of the account?
A One month
B Two months
C Three months
D Six months
9. Which one of the following statement is false regarding A deposit in an account may be made by
A by means of a crossed Cheque, a Demand Draft or a Pay Order drawn in favor of the authorized Officer
B in cash in Indian rupees
C by electronic transfer permitted by the Reserve Bank of India
D by submitting a signed withdrawal Form in respect of a savings account standing in any Accounts Office
10. What is the interest payable on account opened or maintained, or on a deposit made, in contravention of these rules
A No interest is payable
B POSB Account rate is payable
C PPF Account rate is payable
D Penalty has to be bear by depositor
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