16. How can a banking correspondent verify the identity of a customer for account opening?
a) By asking the customer for their Aadhaar card
b) By calling the bank’s head office
c) By checking the customer’s social media profiles
d) By asking the customer’s neighbors for verification
17. Which of the following is a disadvantage of using banking correspondents?
a) Limited branch network
b) Higher transaction fees
c) Limited range of banking services
d) Increased risk of fraud
18. What is the process called when a customer deposits cash with a banking correspondent for transfer to their bank account?
a) Cash withdrawal
b) Cash deposit
c) Cash collection
d) Cash transfer
19. What is the validity period of a banking correspondent arrangement in India?
a) 1 year
b) 2 years
c) 3 years
d) 5 years
20. What is the purpose of the “Swabhiman” initiative in India?
a) To provide credit to small businesses
b) To promote digital banking
c) To provide banking services in villages
d) To provide insurance to farmers
