19 Questions
What are the mandatory documents required to create a bank account?
Aadhaar Card and PAN Card
What is the purpose of a ration card in India?
To purchase subsidised food grain through the Public Distribution System
What is the first step to open a bank account according to the text?
Visit the bank branch or apply online
Which organization has mandated Indian banks to require specific documents for opening a bank account?
Reserve Bank of India
How long do banks usually take for new account approvals?
One to two days
Which personal details are required in the bank account opening form?
Date of birth and parents' names
Which documents are generally required as proof of identity when opening a new bank account?
--PAN Card or Aadhaar Card
What is the primary purpose of submitting KYC documents when opening a bank account?
To comply with regulatory requirements and verify the applicant's identity
Why do banks request applicants to commit to the basic terms and conditions of the bank in the account opening form?
To bind them legally to the terms and conditions
What is the main reason M/s Saraswathi Trading Enterprises wants a working capital facility of Rs.50 lakhs?
To expand the business by introducing online shopping
Which financial ratio provides an insight into the firm's ability to cover its current liabilities with its current assets?
Current Ratio
What is the primary reason why financial parameters alone may not provide a comprehensive view of a firm's overall business position?
Non-financial factors can impact business operations
In the context provided, which of the following documents can be accepted as identity proof but not as address proof?
PAN Card
When a firm's Turnover Ratio is high, what does this indicate?
Efficient management of assets
Which financial indicator assesses the relationship between a firm's debts and its shareholders' equity?
Debt-Equity Ratio
What is the significance of owning premises for a business seeking working capital?
Serves as collateral for loans
'Total Net Worth' in financial statements primarily refers to:
'Total Equity' of shareholders in the firm
How does a high Debt-Equity Ratio affect a firm's financial health?
It suggests high reliance on debt financing.
If a firm uses its assets efficiently resulting in a high Turnover Ratio, what effect does this have on its liquidity position?
Improves liquidity position
Learn about the importance of financial inclusion and the account opening process in India. Discover the documents required to verify your identity, age, and address, as well as the minimum initial deposit needed when opening a bank account.
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