GSPR 2018 MCQs & Quiz for IPO Exam & PS Gr B Exam

GSPR 2018 MCQs & Quiz for IPO Exam & PS Gr B Exam will also help you understand some new concepts under these rules.

Indeed, you can visit the India Post website for the original order.

Government Savings Promotion General Rules,(GSPR 2018)

These so-called Government Savings Promotion General Rules,2018 applies for Post offices.

The Post office Savings Bank General Rules, 1981, the Post office Savings Certificates Rules, 1960, and Public Provident Fund scheme, 1968 are hereby repealed with the introduction of GSPR 2018.

GSPR 2018 MCQs & Quiz

Now check out the Quiz on GSPR 2018.

Created on November 18, 2020

GSPR-2018,( Government Savings Promotion General Rules, 2018)

1 / 16

As per GSPR, 2018(Government Savings Promotion General Rules,2018), which of the following statements is incorrect?

(i) In case of an account opened by a minor or on behalf of a minor or a person of unsound mind, as the case may be, the nomination shall be made by the guardian, who may nominate any individual, including himself in this regard.

(ii)If the accounts were opened before 1-04-2018, in case of an account opened by a minor or on behalf of a minor or a person of unsound mind, as the case may be, no nomination shall be allowed, and in the event of the death of the depositor, the eligible amount shall be paid to the guardian.

(iii) Nomination shall stand cancelled on the death of all the nominee

(iv)Nomination shall stand cancelled on the transfer of the account as security.

A) (i) (ii) (iii) & (iv)

B) (i) only

C) (i) & (iv)

D) None of these

2 / 16

At the maximum, how many individuals can a depositor of an account nominate who in the event of the death of the depositor shall be entitled to receive the eligible balance according to GSPR, 2018(Government Savings Promotion General Rules,2018)?

A) One

B) Two

C) Three

D) Four

3 / 16

Identify the incorrect ones from the following statements:

(i)In the event of the death of the minor, the eligible balance shall be paid to the nominee

(ii)In the event of the death of the minor, the eligible balance shall be paid to the guardian in respect of accounts opened before 01-04-2018.

(iii) Application for transfer of Account is FORM-5

(iv)In case of transfer of an account where the account is intended to be transferred, the said accounts office shall forward the request of the depositor to the Accounts office where the account is maintained for taking requisite action in this regard.

A) (i) (ii) (iii) & (iv)

B) (iii) only

C) (i) only

D) None of these

4 / 16

According to GSPR, 2018 (Government Savings Promotion General Rules,2018), which of the following statements are true?

(i) No interest shall be payable on an account opened/maintained in contravention of these rules

(ii) An account which has matured but not closed, the eligible balance in the account shall continue to earn interest at the rate applicable to the Post office savings account, till the closure of the account.

(iii) An account which has matured but not closed, the eligible balance in the account shall continue to earn interest at the rate applicable to the concerned Post office savings scheme, till the closure of the account.

(iv) Any interest credited erroneously to an account shall be reversed immediately on the detection by the Accounts office without intimation to the depositor.

A) (i) (ii) & (iv) only

B) (i) only

C) (i) & (ii) only

D) (iii) & (iv) only

5 / 16

Which of the following statements is incorrect in accordance with GSPR, 2018(Government Savings Promotion General Rules,2018)?

A depositor who subsequently became NRI, will:

(i) earn interest at the applicable rate of the concerned Post office scheme until maturity.

(ii) no interest after the date of maturity shall be payable on such accounts.

(iii) benefits available to the depositor shall be available on a non-repatriation basis.

(iv) earns interest at the rate applicable to the Post office savings account, after maturity till the closure of the account.

(v) earns interest at the rate applicable to the concerned Post office savings scheme, after maturity till the closure of the account.

A) (i) (iii) & (iv)

B) (i) (ii) & (iii)

C) (iv) & (v)

D) (ii) & (iv)

6 / 16

Identify the correct statement among the following w.r.t. GSPR, 2018(Government Savings Promotion General Rules,2018):

(i) If a depositor ceases to be a citizen of India, the account shall be closed from the last day of the month preceding the month in which the depositor ceases to be a citizen of India and interest at the rate applicable to the relevant post office savings scheme shall be payable on such accounts till its closure.

(ii) If a depositor ceases to be a citizen of India, the account shall be closed from the last day of the month preceding the month in which the depositor ceases to be a citizen of India, and interest at the rate applicable to the post office savings account shall be payable on such accounts till its closure.

(iii)If a depositor ceases to be a citizen of India, the account shall be continued till maturity, and interest at the rate applicable to the post office savings account shall be payable on such accounts till its maturity.

(iv)If a depositor ceases to be a citizen of India, the account shall be continued till maturity, and interest at the rate applicable to the relevant post office savings scheme shall be payable on such accounts till its maturity.

A) (i)

B) (ii)

C) (iii)

D) (iv)

7 / 16

In accordance with GSPR, 2018(Government Savings Promotion General Rules,2018), which of the following statements are true w.r.t. type of accounts?

(i) An account opened as a single account cannot be subsequently converted into a joint account or vice-versa.

(ii) A depositor in a single account, under a savings scheme can open a Joint account subject to an overall ceiling on the amount of deposit or number of accounts applicable to that Savings scheme.

(iii) A depositor in a Joint Account under a savings scheme can open a separate single account subject to an overall ceiling on the amount of deposit or number of accounts applicable to that Savings scheme.

(iv) Joint B type of accounts are to be operated by all the depositors or the surviving depositors jointly.

A) (i) (ii) (iii) & (iv)

B) (i) (ii) & (iii)

C) (ii) & (iii)

D) (ii) (iii) & (iv)

8 / 16

The time limit within which the depositor has to submit the relevant identity document with an updated address in case of change of address, in accordance with GSPR, 2018(Government Savings Promotion General Rules,2018) is:

A) 1 month

B) 2 months

C) 3 months

D) 6 months

9 / 16

What is the time limit within which the depositor has to submit the relevant identity document with an updated address in case of a change of address, in accordance with GSPR, 2018(Government Savings Promotion General Rules,2018)?

A) 1 month

B) 2 months

C) 3 months

D) 6 months

10 / 16

A) 1 month

B) 2 months

C) 3 months

D) 6 months

11 / 16

As per GSPR, 2018(Government Savings Promotion General Rules,2018), if a depositor has only submitted a utility bill with the current address as deemed OVD at the time of opening of an account, he shall have to submit the PAN or Adhaar Number or OVD containing a current address within a period of:

A) 1 month of submitting the utility bill

B) 2 months of submitting the utility bill

C) 3 months of submitting the utility bill

D) 6 months of submitting the utility bill

12 / 16

At the time of opening of an account in accordance with GSPR, 2018, in case the Aadhaar number or PAN or officially valid document (OVD) submitted by Depositor does not have the present updated address, which of the following documents, with present address, serve as OVD for the limited purpose: (i) 1-month-old prepaid mobile bill (ii) electricity bill which is 2 months old. (iii) water bill which is 3 months old (iv) 4 months old piped gas bill (v) 6 months old postpaid mobile bill

A) (i) & (ii) only

B) (i) (ii) (iii) only

C) (ii) only

D) (i) (ii) (iii) (iv) & (v)

13 / 16

Which of the following statements are correct w.r.t. GSPR, 2018(Government Savings Promotion General Rules,2018)?

(i) Now, if an individual does not submit PAN at the time of opening an account, he shall submit within 6 months from the date of opening of the account.

(ii)For accounts opened prior to the issue of said notification on GSPR,2018, if an individual has not submitted PAN at the time of opening an account, he shall submit within 6 months from the date of issue of notification of GSPR, 2018.

(iii) In the event of failure of the depositor to submit the PAN within 6 months specified (from date of opening or notification of GSPR, 2018), his account shall cease to be operational till the time he submits the PAN to the Account office.

(iv) Government Savings Promotion General Rules,2018 came into force w.e.f. 05-10-2018 and applies to Postoffices also.

A) (i) (ii) & (iii) only

B) (i) (ii) & (iv) only

C) (i) (ii) (iii) & (iv) only

D) None of these

14 / 16

According to GSPR,2018 (Government Savings Promotion Act, 2018), which of the following is not an Officially Valid Document (OVD) to be regarded for Identity Document at the time of opening an account in the post office: (i) Letter issued by the National Population Register (ii) NREGS Job card (iii) Voter Identity card (iv) Driving license (v) passport?

A) (i) only

B) (i) (ii) & (iv) only

C) (iii) & (v) only

D) None of these

15 / 16

**According to GSPR,2018 (Government Savings Promotion Act, 2018), which of the following is not an Officially Valid document: (i) Letter issued by the National Population Register (ii) NREGS Job card (iii) Voter Identity card (iv) Driving license (v) passport?**

A) (i) only

B) (i) (ii) & (iv) only

C) (iii) & (v) only

D) None of these

16 / 16

As per GSPR-2018 ( Government Savings Promotion General Rules, 2018), which of the following is incorrect?

(i) If the depositor subsequently becomes NRI during the period the account is in operation, the account may be continued till its maturity.

(ii) If the depositor subsequently becomes NRI during the period the account is in operation, the account shall not be allowed to be extended or continued beyond maturity.

(iii) If the depositor subsequently becomes NRI during the period the account is in operation, even if the extension is and otherwise permissible and no interest shall be payable after the date of its maturity.

(iv) If the depositor subsequently ceases to be citizen of India during the period the account is in operation, the account shall be closed or deemed to be closed from the last day of the month preceding the month in which depositor ceases to be a citizen of India.

A) (i) only

B) (i) & (iv) only

C) (i) (ii) (iii) & (iv)

D) None of these

Your score is

*** *** ***

Now it’s your turn.

Which question from the above Quiz on GSPR 2018 did you like the most?

Let me know in the comments section below right now.

8 thoughts on “GSPR 2018 MCQs & Quiz for IPO Exam & PS Gr B Exam”

HITESH PATHAK says:

November 19, 2020 at 6:52 pm

Thanks sir for considering the request of quiz on SB . These quizzes are really building our confidence.

1. Admin says:
  
  November 20, 2020 at 4:31 am
  
  Welcome, Hitesh! Definitely, Quizzes help a lot, particularly to revise the subject effectively. Further, I have not only randomized the questions but also answers so that your brain only works not your eyes?. So I’m glad to hear you got some value out of it??? with a confidence boost?.
  
  1. Narayan says:
    
    November 21, 2020 at 4:02 am
    
    Very good
    
    1. Admin says:
      
      November 21, 2020 at 4:41 am
      
      Welcome,Narayan ji
      
MSH Krishna says:

November 20, 2020 at 5:58 am

Sir

Thank you very much sir
BO inspection questioner is very much informative

Regards

1. Admin says:
  
  November 20, 2020 at 8:43 am
  
  Welcome, Krishna! As Inspecting Authority, you need to know the basic inputs of a BO Questionnaire throuroughly.
  
Bishwajit Roy says:

November 22, 2020 at 4:18 pm

Thanks for such a quiz. You made it to learn GSPR in a very easy way. Thanks once again

1. Admin says:
  
  November 22, 2020 at 6:11 pm
  
  No worries, Biswajit Ji! Though the topic is 20 pages in all, it has many important points to make note of. It gets off unnoticed normally. So, made it clear as you said.

Government Savings Promotion General Rules,(GSPR 2018)

GSPR 2018 MCQs & Quiz

As per GSPR, 2018(Government Savings Promotion General Rules,2018), which of the following statements is incorrect?

(i) In case of an account opened by a minor or on behalf of a minor or a person of unsound mind, as the case may be, the nomination shall be made by the guardian, who may nominate any individual, including himself in this regard.

(ii)If the accounts were opened before 1-04-2018, in case of an account opened by a minor or on behalf of a minor or a person of unsound mind, as the case may be, no nomination shall be allowed, and in the event of the death of the depositor, the eligible amount shall be paid to the guardian.

(iii) Nomination shall stand cancelled on the death of all the nominee

(iv)Nomination shall stand cancelled on the transfer of the account as security.

At the maximum, how many individuals can a depositor of an account nominate who in the event of the death of the depositor shall be entitled to receive the eligible balance according to GSPR, 2018(Government Savings Promotion General Rules,2018)?

According to GSPR, 2018 (Government Savings Promotion General Rules,2018), which of the following statements are true?

(i) No interest shall be payable on an account opened/maintained in contravention of these rules

(ii) An account which has matured but not closed, the eligible balance in the account shall continue to earn interest at the rate applicable to the Post office savings account, till the closure of the account.

(iii) An account which has matured but not closed, the eligible balance in the account shall continue to earn interest at the rate applicable to the concerned Post office savings scheme, till the closure of the account.

(iv) Any interest credited erroneously to an account shall be reversed immediately on the detection by the Accounts office without intimation to the depositor.

Which of the following statements is incorrect in accordance with GSPR, 2018(Government Savings Promotion General Rules,2018)?

A depositor who subsequently became NRI, will:

(i) earn interest at the applicable rate of the concerned Post office scheme until maturity.

(ii) no interest after the date of maturity shall be payable on such accounts.

(iii) benefits available to the depositor shall be available on a non-repatriation basis.

(iv) earns interest at the rate applicable to the Post office savings account, after maturity till the closure of the account.

(v) earns interest at the rate applicable to the concerned Post office savings scheme, after maturity till the closure of the account.

In accordance with GSPR, 2018(Government Savings Promotion General Rules,2018), which of the following statements are true w.r.t. type of accounts?

(i) An account opened as a single account cannot be subsequently converted into a joint account or vice-versa.

(ii) A depositor in a single account, under a savings scheme can open a Joint account subject to an overall ceiling on the amount of deposit or number of accounts applicable to that Savings scheme.

(iii) A depositor in a Joint Account under a savings scheme can open a separate single account subject to an overall ceiling on the amount of deposit or number of accounts applicable to that Savings scheme.

(iv) Joint B type of accounts are to be operated by all the depositors or the surviving depositors jointly.

What is the time limit within which the depositor has to submit the relevant identity document with an updated address in case of a change of address, in accordance with GSPR, 2018(Government Savings Promotion General Rules,2018)?

Which of the following statements are correct w.r.t. GSPR, 2018(Government Savings Promotion General Rules,2018)?

(i) Now, if an individual does not submit PAN at the time of opening an account, he shall submit within 6 months from the date of opening of the account.

(ii)For accounts opened prior to the issue of said notification on GSPR,2018, if an individual has not submitted PAN at the time of opening an account, he shall submit within 6 months from the date of issue of notification of GSPR, 2018.

(iii) In the event of failure of the depositor to submit the PAN within 6 months specified (from date of opening or notification of GSPR, 2018), his account shall cease to be operational till the time he submits the PAN to the Account office.

(iv) Government Savings Promotion General Rules,2018 came into force w.e.f. 05-10-2018 and applies to Postoffices also.

According to GSPR,2018 (Government Savings Promotion Act, 2018), which of the following is not an Officially Valid document: (i) Letter issued by the National Population Register (ii) NREGS Job card (iii) Voter Identity card (iv) Driving license (v) passport?

As per GSPR-2018 ( Government Savings Promotion General Rules, 2018), which of the following is incorrect?

(i) If the depositor subsequently becomes NRI during the period the account is in operation, the account may be continued till its maturity.

(ii) If the depositor subsequently becomes NRI during the period the account is in operation, the account shall not be allowed to be extended or continued beyond maturity.

(iii) If the depositor subsequently becomes NRI during the period the account is in operation, even if the extension is and otherwise permissible and no interest shall be payable after the date of its maturity.

(iv) If the depositor subsequently ceases to be citizen of India during the period the account is in operation, the account shall be closed or deemed to be closed from the last day of the month preceding the month in which depositor ceases to be a citizen of India.

Now it’s your turn.

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8 thoughts on “GSPR 2018 MCQs & Quiz for IPO Exam & PS Gr B Exam”

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**According to GSPR,2018 (Government Savings Promotion Act, 2018), which of the following is not an Officially Valid document: (i) Letter issued by the National Population Register (ii) NREGS Job card (iii) Voter Identity card (iv) Driving license (v) passport?**