Hi friends, here is the MCQ Quiz on Government Savings Promotion Act 1873. Government Savings Promotion Act 1873 was the law relating to the payment of deposits in Government Savings Banks. It is a very Important topic in Paper 1 of Inspector Posts Examination (IPO Exam). Here we bring you a very useful MCQ Questions series from the topic. Those preparing for Postal Service Group B Exam (PS Gr.B Exam) will also find these quiz very useful.
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MCQ Quiz on Government Savings Promotion Act 1873
1. Government Savings Promotion Act, 1873 is?
ACT NO. 5 OF 1973
ACT NO. 1 OF 1873
ACT NO. 11 OF 1973
ACT NO. 45 OF 1873
Correct answer
ACT NO. 5 OF 1973
2. Which among the following provisions contained in Government Savings Promotion Act, 1873 has/have been Omitted by the Finance Act, 2018? i. Act not to apply to deposits in Anchal Savings Bank ii. Payment of married women’s deposits
Only i
Only ii
Both i and ii
None of the above
Correct answer
Both i and ii
3. “Government Savings Bank” as defined under Government Savings Promotion Act, 1873 includes? i. a Post Office Savings Bank ii. State Bank of India or a banking company
Only i
Only ii
Both i and ii
None of the above
Correct answer
Both i and ii
4. “Guardian”, in relation to a minor or a person of unsound mind under Government Savings Promotion Act, 1873 means?
either of the parents
legal guardian appointed by a court
a person entitled under the law for the time being in force to have the care of the property of a minor or a person of unsound mind
All the above
Correct answer
All the above
5. “Minor” as defined under Government Savings Promotion Act, 1873 means a person who has not attained the age of majority under?
Indian Penal Code 1860
Indian Majority Act, 1875
Completing the age of eighteen years
Representation of the People Act, 1951
Correct answer
Indian Majority Act, 1875
6. As per Section 3B of Government Savings Promotion Act, 1873 a minor who has attained the age of __ years may open and operate an account in the Government Savings Bank, if so permitted under a Savings Scheme?
18 years
10 years
7 years
14 years
Correct answer
10 years
7. Under Government Savings Promotion Act, 1873, if the depositor is a minor or a person of unsound mind, the nominee shall be designated by the?
Minor himself
No nomination required in such a case
guardian
Postmaster/Branch Manager concerned
Correct answer
guardian
8. Under Government Savings Promotion Act, 1873, where the amount of the deposit belonging to the estate of a deceased depositor does not exceed Rs.__, such amount shall be excluded in computing the fee chargeable, under the Court-fees Act, 1870?
Rs.10,000/-
Rs.5,000/-
Rs.3,000/-
Rs.1000/-
Correct answer
Rs.3,000/-
9. Which among the following is contained under Government Savings Promotion Act, 1873?
Deposits Belonging to the Estates of Deceased
Deposits belonging to minors
Deposits belonging to lunatics
All the above
Correct answer
All the above
10. Payment of deposits to minor or guardian is mentioned in which section of Government Savings Promotion Act, 1873?
Section 10
Section 6
Section 21
Section 32
Correct answer
Section 10
11. Payment of deposits belonging to lunatics is mentioned in which section of Government Savings Promotion Act, 1873?
Section 10
Section 6
Section 12
Section 24
Correct answer
Section 12
12. Any depositor who suffers from physical infirmity, including blindness may operate and make a deposit through? i. any literate individual whom he authorises ii. any employee working in the concerned Post Office
Only i
Only ii
Both i and ii
None of the above
Correct answer
Only i
13. The amount standing to the credit of any depositor in which scheme shall not be liable to attachment under any decree or order of any court in respect of any debt or liability incurred by the depositor?
Post Office Savings Scheme
Time Deposit Scheme
Public Provident Fund Scheme
Recurring Deposit Scheme
Correct answer
Public Provident Fund Scheme
14. Who among the following has power to make rules under Government Savings Promotion Act, 1873?
Department of Posts
Ministry of Communication
Reserve Bank of India
Central Government
Correct answer
Central Government
15. Kisan Vikas Patra which was discontinued from 1st December, 2011 was reintroduced on?
23 September 2014
1 June 2015
12 December 2015
2 October 2014
Correct answer
23 September 2014
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