Here are some MCQs on Banking Correspondents
1. What is a banking correspondent?
a) A person who works in a bank
b) A person who represents a bank in providing banking services in remote areas
c) A person who manages bank loans
d) A person who handles customer complaints in a bank
2. Which of the following is not a function of a banking correspondent?
a) Account opening
b) Cash withdrawal and deposit
c) Loan processing
d) Foreign currency exchange
3. Who regulates the functioning of banking correspondents in India?
a) Reserve Bank of India (RBI)
b) Securities and Exchange Board of India (SEBI)
c) Ministry of Finance
d) Indian Banks’ Association (IBA)
4. What is the primary objective of banking correspondents?
a) To promote financial inclusion in remote areas
b) To maximize profits for the bank
c) To provide customer service in bank branches
d) To develop new banking products for the bank
5. Which of the following is true about banking correspondents?
a) They are employees of the bank
b) They work only in urban areas
c) They do not handle cash transactions
d) They are trained individuals or entities engaged by the bank
