MCQ on National Saving Recurring Deposit Scheme 2019 | Inspector of Posts | Group B

The National Saving Recurring Deposit Scheme 2019 is replacement of existing Post Office Recurring Deposit Rules, 1981. The following 10 MCQ is covered all the section of Post Office National Saving Recurring Deposit Scheme 2019.

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1. "Year" refered in National Saving Recurring Deposit Scheme 2019

A) a period of twelve months from the date of deposit
B) a calender year
C) a period of twelve months from April
D) a period of twelve months from the month following the month of date of deposit

... Answer is A)
Section 2 of Post National Saving Recurring Deposit Scheme 2019

 

 

2. The minimum amount of monthly deposit in National Saving Recurring Deposit Scheme 2019

A) 200
B) 100
C) 400
D) 300

... Answer is B)
Section 5 of Post National Saving Recurring Deposit Scheme 2019

 

 

3. National Saving Recurring Deposit Scheme 2019 shall be discontinued

A) when there are more than Six defaults
B) when there are more than Five defaults
C) when there are more than Three defaults
D) when there are more than Four defaults

... Answer is D)
Section 6 of Post National Saving Recurring Deposit Scheme 2019

 

 

4. Advance deposits in National Saving Recurring Deposit 2019 may be made

A) Upto Three years
B) Upto Five years
C) Upto 12 months
D) Upto 6 month

... Answer is B)
Section 7 (9) of Post National Saving Recurring Deposit Scheme 2019

 

 

5. Advance deposits in National Saving Recurring Deposit 2019 may be made

A) Upto Three years
B) Upto Five years
C) Upto 12 months
D) Upto 6 month

... Answer is B)
Section 7 (9) of Post National Saving Recurring Deposit Scheme 2019

 

 

6. In relation to National Saving Recurring Deposit Scheme 2019 account may prematurely close after

A) One years from the date of opening of the account
B) Two years from the date of opening of the account
C) Three years from the date of opening of the account
D) Four years from the date of opening of the account

... Answer is C)
Section 8 of Post National Saving Recurring Deposit Scheme 2019 ..The account holder may, by making an application to the accounts office in Form-2, close the account prematurely after three years from the date of opening...

 

 

7. Which of the following is not correct w.r.t Loan in National Saving Recurring Deposit Scheme 2019

A) loan facility will be available after one year
B) Loan amount shall be multiple of one hundred rupees
C) Interest on Loan will be 2% over and above the interest rate of RD
D) The balance in the account for the purpose of loan shall include all deposits including advance deposits

... Answer is B)
Section 8 of Post National Saving Recurring Deposit Scheme 2019 ..The amount of such loan shall be a multiple of ten rupees which may be repaid, at any time during the currency of the account in one lump sum or in equal monthly instalments...

 

 

8. Which of the following condition is incorrect in repayment of maturity value in Protected Savings Scheme

A) Restricted to the maturity value of an account of the denomination of one hundred rupees
B) the account has not become a discontinued account
C) no loan has been made from the account during the first twenty-four months
D) the age of the account was between 18 to 60 at the time of account opening

... Answer is D)
Section 13 of Post National Saving Recurring Deposit Scheme 2019

 

 

9. Which of the following is not correct in respect of National Saving Recurring Deposit Scheme 2019

A) RD account may be opened upto three adults jointly
B) Extension can be made only once for a term of five years
C) Minimum of monthly deposit is multiple of ten rupees
D) The rebate may be given irrespective of whether the amount was deposited in one lump sum in any calendar month or on different dates in any calendar month

... Answer is C)
National Saving Recurring Deposit Scheme 2019

 

 

10. A minor on whose behalf an account has been opened may, on his attaining majority

A) continue the account for full maturity period
B) claim proportionate amount
C) Provision B is not mentioned in the Scheme
D) Both provision have been mentioned in the Scheme

... Answer is D)
Section 16 of National Saving Recurring Deposit Scheme 2019