MCQs based on Bank’s Circulars during JULY,2021

1. As per the Supreme Court judgement in one of the recent cases, what would be
the quantum of compensation vis-à-vis financial loss suffered by the customer
on account of deficiency in services by the Bank?
a. Equal to the financial loss
b. Two times of the financial loss
c. Equal to the financial loss + interest
d. May not be equal to the financial loss
2. Under OCTMS (On-site Compliance Testing & Monitoring System) what will be
the quarterly test check percentage of branches by Regional Compliance
Officer?
a. 10% b. 15% c. 20% d. 25% e. none
3. As per Policy on Administrative enforcement of Accountability, an employee will
be given which of the following flag points representing positive and negative
respectively with regard to compliance and ethics?
a. Green and red
b. Green and yellow
c. White and red
d. White and black
4. Which of the following is NOT an objective of implementing the Policy on
Administrative enforcement of Accountability?
a. Create a fully compliant organization in all respects
b. Build a system of rewards for positive behavior and also to forewarn
employees and get them to rectify or improve on the compliance
c. Strict implementation of Staff Accountability
d. To act as a preventive vigilance mechanism
e. To make the Bank into a very well run and efficiently functioning organisation
5. What is the minimum gold loan portfolio at the branch to be eligible for
identification as Gold Loan Shoppe (in Southern area)?
a. `2 Cr b. `3 Cr c. `5 Cr d. `10 Cr e. `15 Cr
6. What is the minimum gold loan portfolio at the branch to be eligible for
identification as Gold Loan Shoppe (in other than Southern area)?
a. `1 Cr b. `2 Cr c. `3 Cr d. `4 Cr e. `5 Cr
7. What is the DLP (per borrower) to the In-charge of Gold Loan Shoppe?
a. `1.00 lac b. `2.00 lacs c. `3.00 lacs d. `4.00 lacs e. `5.00 lacs
8. What is the TAT given for branches of identified Gold Loan Shoppe with regard
to quick sanctioning of jewel loans?
a. 10 minutes b. 15 minutes c. 20 minutes d. 30 minutes

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9. Credit Risk in Gold loan is highly correlated to the collateral value, any steep
downward correction in gold price leads to fall in ________ of existing gold
loan accounts and also increased credit cost as well as the auction risk.
a. Value
b. Riskiness
c. Probability
d. Margin
e. Expectation

10. What is the maximum entry age for NPS subscriber as per revised norms?
a. 60 years b. 65 years c. 70 years d. 75 years

11. What is the maximum age limit upto which an NPS account can be continued/
withdrawal can be deferred?
a. 60 years b. 65 years c. 70 years d. 75 years

12. What is the NPS corpus limit for lumpsum payment to the subscriber on
completion of 60 years of age?
a. `1.00 lac b. `2.00 lacs c. `3.00 lacs d. `4.00 lacs e. `5.00 lacs
13. In case the total corpus in the account is less than _____ on completion of 10
years or before completion of 3 years (if subscriber joined NPS after 60 years
of age) the entire corpus is paid in lumpsum.
a. `0.50 lacs b. `1.50 lacs c. `1.50 lacs d. `2.00 lacs e. `2.50 lacs

14. CERSAI charge for which of the following assets is mandatory?

a. Motor vehicle
b. Standing crops
c. Live Stock
d. Patent/Franchise/Trades Receivables
e. All the above
15. Mr Rich, a HNI client has enquired about the rate of interest applicable to his
SB account, if he maintains `200 Cr in his account.
a. Will deny quoting ROI as such huge amount in SB is suspicious transaction
b. All SB attract same ROI irrespective of outstanding amount, so will quote
2.75%
c. 3.05%
d. 3.10%
e. 3.11%

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16. Mr Raj, Branch Head of Simandhar branch was approached by a customer on
behalf of whom our bank had issued guarantee to Govt organization in the year
2014 for closure of expired BG. Neither the original BG was received at branch
nor the discharge letter was provided by the beneficiary. Can such BG be
closed, what would be the justification?
a. The BG can not be closed in any case without receiving the original bond back
or the discharge letter from the beneficiary (Govt organization)
b. This can be closed, if branch has sent a letter/notice under RP/AD to the
beneficiary clearly stating that the claim period under the BG has expired
and that the beneficiary is no more entitled to invoke the BG and demanding
the return of original BG duly discharged. Branch has to further send a
reminder letter/notice after 15 days and if there is no reply even to second
notice, the BG can be closed after 30 days from sending of first notice.
c. This can be closed, if branch has sent a letter/notice under RP/AD to the
beneficiary clearly stating that the claim period under the BG has expired
and that the beneficiary is no more entitled to invoke the BG and demanding
the return of original BG duly discharged. Branch has to further send a
reminder letter/notice after 15 days and if there is no reply even to second
notice, the BG can be closed after 01 year from sending of first notice.
d. Branches should take up the matter on a case to case basis, with the Legal
dept of RO/ZO along with the copy the BG to obtain legal opinion on the
claim/validity period of the BG.
e. The BG can be closed as per normal procedure because here the Govt
Organisation is beneficiary, not the customer.

17. How many categories of Branch types have been defined for KRA allocation
under GEMS for the Branch Heads for allocation of KRAs under GEMS for the
FY 2021-22?
a. 7 b. 6 c. 5 d. 4 e. 3

18. Which of the following is/are not a mandatory requirement for opening Video
KYC based online SB Account?
a. Mobile number registered with Aadhaar
b. PAN card
c. Aadhaar card
d. E-mail ID
e. Visit to Branch

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19. Which of the following is/are NOT an eligibility criterion for V-KYC online SB
Account opening?
a. Its available to only New to Bank (NTB) customers aged 15 and above
b. The customer should not be a politically exposed person
c. Account in single name and operated by ‘self’ only
d. Address in Aadhaar will be used as permanent and communication
address
e. (b) and (c)

20. The Online SB Account opening journey has been divided into how many number
of sections?
a. 4 b. 5 c. 6 d. 7 e. 8
21. In case of online SB account through Video based Customer identification
process (V-CIP), who will carry out the V-KYC?
a. Branch Head
b. Any authorized officer of the branch with the help of TAB
c. Dedicated staff from V-CIP cell, Giftcity, Gandhinagar
d. CASA Officer from the respective RO
e. As per customer’s choice
22. Reserve Price for auction of property under SARFAESI should be fixed on
what value of the property?
a. Market
b. Realisable
c. Distressed
d. Salvage
e. As decided by RO
23. In Mobile Banking App max number of transactions allowed per customer ID in
a day has been increased from _____ to ________ w.e.f. 01.08.2021.
a. 20 to 30
b. 20 to 40
c. 20 to 50
d. 20 to 100
24. Maximum amount ‘per day’ in Mobile Banking application for instant payment
through IMPS w.e.f. 01.08.2021 is ______
a. `25,000/- b. `50,000/- c. `1.00 lac d. `2.00 lacs
25. Maximum amount ‘per day’ in Mobile Banking application for beneficiary
payment through IMPS w.e.f. 01.08.2021 is ______
a. `1.00 lac b. `2.00 lacs c. `3.00 lacs d. `5.00 lacs

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26. What is the cooling period for beneficiary addition under RTGS mode in our
mobile banking?
a. 4 hrs b. 6 hrs c. 8 hrs d. 24 hrs e. 48 hrs

27. What is the cooling period for beneficiary addition under NEFT/IMPS/ third
party within Bank in our mobile banking?
a. 4 hrs b. 6 hrs c. 8 hrs d. 24 hrs e. 48 hrs

28. What is the legislation which covers loans granted under PS/Govt Sponsored
Schemes whereby the competent Revenue officials on receipt of an application
by the Bank may issue a Recovery Certificate and initiate execution proceedings
for recovery on behalf of the Bank?
a. Bank loan Recovery Act
b. Public Advances Recovery Act
c. Recovery of Public Loan Act
d. Public Money Recovery Act

29. How many number of Education Loan Sanction Cells (ELSCs) have become
functional in our Bank?
a. 10 b. 11 c. 14 d. 15 e. 18
30. Which of the following statement/s regarding ELSCs is/are NOT correct?
a. ELSCs would process only Education loans with Security (mortgage based and
backed by liquid security)
b. For branches not linked to ELSCs, SMS will continue doing Education Loans
as per DLP
c. TAT for loans upto `7.50 lacs is 7 days and 15 days in case loans more than
`7.50 lacs
d. A total of 1433 branches have been mapped with 11 ELSCs in strategic
locations

31. What are the features of ‘Pre Approved Mini-Personal Loan’ under DLP Phase-
II?
a.Above `50,000/- and upto `5.00 lacs
b.Tenure of repayment 18-36 months
c.Channels for initiation of Applicant’s journey are M Connect+, Baroda
Connect and Bank’s website
d. Account relationship 6 months or more
e. All the above

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32. Recently our Bank has allowed for Merchant on-boarding through TAB Banking
for SBA and CCA scheme types in addition to existing CAA scheme type. Which
of the following statement/s regarding the same is NOT TRUE?
a. GSTIN is compulsory for any new merchant on-boarding through Baroda
TABIT for CAA & CCA schemes
b. Branches are not required to send any type of scanned forms through
email to UPI Merchant on-boarding team
c. In case the customer doesn’t want to avail the UPI QR code, Welcome
kit, QR code will be sent free of charge through e-mail
d. In case the customer wants to avail the UPI QR code, Welcome code,
charges of 100/-+GST will be debited after obtaining mobile consent
from the customer
33. Our Bank has recently rolled out new product ‘NEFT at BC point’. Which of the
following statements is NOT correct in this regard?
a. The transaction limits are min `10/- and max `10,000/-
b. The commission payable to BC will be maximum @ `10/-
c. Aadhaar authentication of customer is compulsory for adding remitter as
well as beneficiary for the said service
d. Deletion of beneficiary can not be done at BC point, customer to visit the
branch for the same
34. Which of the following statements is not correct with regard to ‘quoting of
PAN in customer’s account’?
a. If the customer is providing Form-60, PAN number may not be obtained
b. If the customer does not have PAN, Form-60 is to be obtained
c. PAN number should be validated through PANVAL menu
d. Branch Heads to exercise extreme caution while overriding ‘name
mismatch’ thrown up during the validation process

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 TRUE/FALSE

35. Registration of charge for motor vehicles, Live stock and standing crops in
CERSAI portal is not required. T/F

36. Shri Alok Vajpeyi has been declared elected as our Bank’s Shareholder
Director for a period of 3 years from 9th July, 2021. T/F

37. Security Interest ID will be the same for all the banks in the
consortium/multiple finance for the same property on which the charge is
created on pari-passu basis, however the Asset ID will be different for
individual banks in the consortium/multiple finance for the same property . T/F

38.Continuation of Staff Pension account by Family Pensioner in case of death of

first holder is allowed. T/F

39. FITL portion of WC facilities are outside the purview of CGTMSE coverage. T/F

40. ELSCs would process all types of Education loan – Unsecured & Secured
(mortgage based and backed by liquid security) T/F

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KEY
1 2 3 4 5 6 7 8 9 10
d d c c d b c b d c
11 12 13 14 15 16 17 18 19 20
d e e d c d b e a d
21 22 23 24 25 26 27 28 29 30
c b a b d d a d b a
31 32 33 34 35 36 37 38 39 40
e a d a T T F T T T

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Circular of important reference-

1. BCC/BR/113/387 dated 01.07.2021 – ‘CERSAI’ Master circular

2. BCC/BR/113/397 dated 05.07.2021 – Implementation of OCTMS (On-site Compliance Testing & Monitoring
System)
3. BCC/BR/113/398 dated 06.07.2021 – Policy on Administrative Enforcement of Accountability
4. BCC/BR/113/413 dated 14.07.2021 – various amendments in provisions of NPS
5. BCC/BR/113/422 dated 19.07.2021 – Revision of Savings Bank Deposit Rates
6. BCC/BR/113/424 dated 19.07.2021 – Closure of expired BGs
7. BCC/BR/113/427 dated 20.07.2021 – Baroda GEMS – BH’s KRA for the FY 2021-22
8. BCC/BR/113/428 dated 20.07.2021 – Online Savings account using Video KYC
9. BCC/BR/113/432 dated 20.07.2021 – Revision in Fund Transfer Limits – Mobile Banking
10. BCC/BR/113/439 dated 26.07.2021 – Discretionary powers for allowing concessions and deviations
11. BCC/BR/113/445 dated 26.07.2021 - Opening of Education Loan Sanction Cell (ELSC)
12. BCC/BR/113/450 dated 27.07.2021 - Advising the Issuance & Amendment of Inland BG through SFMS
13. BCC/BR/113/453 dated 26.07.2021 – DLP Phase-II – launching of Pre Approved Personal Loan
14. HO/BR/113/153 dated 01.07.2021 – Migration of PF modules to HR Connect
15. HO/BR/113/162 dated 09.07.2021 - Digital products & services – Escalation matrix
16. HO/BR/113/168 dated 19.07.2021 - PMSBY online claim lodging facility with NIC Ltd.

Happy Learning Barodians…

Compiled by –
M. Suresh Kumar, Chief Manager & Branch Head, BTM Layout Branch (BTMBAN), Bengaluru
suresh.mandarapu@bankofbaroda.com

87627 84886