Hi friends, Department of Posts provides Book Now Pay Later(BNPL) facility to customers availing speed post articles booking in bulk. Recently, India Post has revised the Operational Guidelines of Speed Post (Domestic) BNPL scheme vide OM No.No.39-08/2021-D dated 2 September 2022.
In this post we bring you some useful MCQ Questions on BNPL Scheme. This MCQ questions will be useful for various Departmental Examinations conducted by Department of Posts including LGO Exams, Inspector Posts Exam, PS Gr.B Exam, AAO Examination etc.
Highlights of BNPL Scheme
Bulk customer is eligible for credit facility provided he enters in to an agreement with the Department. Bulk customer is defined as anyone who provides Rs. 10,000 worth of speed post business in calendar month at a Speed Post booking office.
The bulk customer choosing to avail credit facility will apply to designated authority in the prescribed format. The bulk customer will have to enter into an agreement with the designated authority. On getting approval, the customer shall have to produce Bank Guarantee. The contract will be applicable for a period of one year and approving authority shall renew the contract on an annual basis.
MCQ Questions on Book Now Pay Later(BNPL)
1. Latest revision of Operational guidelines of Speed Post (Domestic) and BNPL scheme was issued by Postal Directorate on?
(A) 1 Januaru 2017
(B) 24 January 2017
(C) 17 March 2015
(D) 2 September 2022
Ans: (D) 2 September 2022
2. Term Corporate Customer under BNPL purpose refers to anyone who provides Speed Post (domestic) business worth Rs_____ and above in a calendar month at a Speed Post booking Office?
(A) 10000
(B) 5000
(C) 25000
(D) 50000
Ans: (A) 10000
3. What is the full form of BNPL?
(A) Book Now Pay Later
(B) Buy Now Pay Later
(C) Book Now Present Later
(D) Buy Now Present Later
Ans: (A) Book Now Pay Later
4. Which among the following are the options available for bulk customers at booking point?
(A) BNPL
(B) Advance Deposit
(C) Both A and B
(D) None of the above
Ans: (C) Both A and B
5. All the cases of enrolment/registration of corporate customer either BNPL or Advance Deposit, providing monthly business of Rs.10,000/- (Rs. ten thousand) and above at a single location shall be approved by the?
(A) Director/Chief Postmaster in case of GPOs
(B) Divisional Head for all other cases falling under his/her jurisdiction
(C) Both A and B are correct
(D) Director General Postal Services
Ans: (C) Both A and B are correct
6. The maximum period up to which the BNPL agreement with the eligible corporate customer ean be signed shall be ____ years?
(A) 1 year
(B) 2 years
(C) 3 years
(D) 5 years
Ans: (C) 3 years
7. In case the corporate customer wishes to sign the BNPL agreement for 3 years, the validity of the bank guarantee shall be ____ months from the date of signing of the agreement?
(A) 39 months
(B) 36 months
(C) 12 months
(D) 60 months
Ans: (A) 39 months
8. Under BNPL, the time limit for registration of corporate customer with Department shall be ___ days from the receipt of application complete in all respect along with KYC/supporting documents from the customer?
(A) 7 days
(B) 5 days
(C) 2 days
(D) 15 days
Ans: (C) 2 days
9. Customers having monthly business less than Rs.10,000/- seeking BNPL facility, will be enrolled with the approval of _____ as the case
May be, subject to the conditions that free pick up, API integration etc. shall not be provided?
(A) Secretary (Posts)
(B) Divisional Head
(C) DPS(HQ)
(D) CPMG or PMG
Ans: (D) CPMG or PMG
10. Eligibility for customers seeking BNPL facility with booking at multiple locations within a Circle/Region shall be the monthly Speed Post (domestic) business of Rs._____ and above at all the locations?
(A) 1 lakh
(B) 5 lakh
(C) 10 lakh
(D) 2 lakh
Ans: (A) 1 lakh
11. Which among the following is/are correct with regard to customers seeking BNPL facility with booking at multiple locations within a Circle/Region?
i. The eligibility shall be the monthly Speed Post (domestic) business of Rs.One lakh and above at all the locations
ii. The Speed Post business at all the booking locations in the Circle/Region shall be clubbed for calculation of discount.
iii. The CPMG/PMG of respective Circle/Region shall be the approving authority for such cases.
iv. In exceptional cases, the limit in such cases can be revised with the approval of CPMG, on case to case basis
(A) i, ii and iii are correct
(B) Only i and ii are correct
(C) All the above are correct
(D) None of the above are correct
Ans: (C) All the above are correct
12. The BNPL/Advanee Deposit agreement can be renewed subsequently with the existing terms and conditions for a period of ____ years on each occasion by the
approving authority provided that the customer will furnish renewed/afresh security deposit of amount as prescribed by Department of Posts from time to time?
(A) 2 years
(B) 1 year
(C) 5 years
(D) Agreement cannot be renewed
Ans: (A) 2 years
13. The facility involving booking of Speed Post articles from more than one Circle under BNPL scheme is called?
(A) Parichay Account Facility
(B) National Account Facility
(C) Advance Deposit Facility
(D) Corporate Discount Facility
Ans: (C) Advance Deposit Facility
14. The condition for seeking National Account Facility shall continue to be Speed Post (domestic) business Rs.____ per annum from all the locations?
(A) Rs.25 lakh
(B) Rs.1 crore
(C) Rs.1 lakh
(D) Rs.10 lakh
Ans: (B) Rs.1 crore
15. Under BNPL, the maximum period up to which the National Account Facility(NAF) agreement with the eligible corporate customer can be signed shall be ___ years?
(A) 2 years
(B) 3 years
(C) 5 years
(D) 1 year
Ans: (B) 3 years
16. Under BNPL, in case the corporate customer wishes to sign the NAF agreement for 3 years, the validity of the bank guarantee shall be ____ months from the date of signing of agreement?
(A) 36 months
(B) 24 months
(C) 12 months
(D) 39 months
Ans: (D) 39 months
17. The NAF agreement can be renewed subsequently with existing terms and conditions for a period of ____ years on each occasion by the CPMG of Nodal Circle
under intimation to the Mail Business Division of Postal Directorate?
(A) 2 years
(B) 3 years
(C) 5 years
(D) None of the above
Ans: (A) 2 years
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