Podcast
Questions and Answers
What is the primary purpose of the safe deposit locker as per the terms and conditions?
What is the primary purpose of the safe deposit locker as per the terms and conditions?
- To store explosive materials
- To sublet to others
- To store documents only
- To store valuables such as jewellery (correct)
What action can the bank take if the rent for the locker is not paid on time?
What action can the bank take if the rent for the locker is not paid on time?
- Provide free locker service
- Reduce the rent amount
- Allow more time to pay the rent
- Refuse access to the locker (correct)
What happens if a hirer tries to use the locker for illegal purposes?
What happens if a hirer tries to use the locker for illegal purposes?
- The bank will report it to the police (correct)
- The bank will ignore it
- The hirer will be fined
- The hirer will be allowed to continue
What is the consequence of defaulting on rent payment after receiving a registered notice?
What is the consequence of defaulting on rent payment after receiving a registered notice?
What is the purpose of the originating bank sending a confirmation to the originating customer?
What is the purpose of the originating bank sending a confirmation to the originating customer?
How can the remitter track an NEFT transaction?
How can the remitter track an NEFT transaction?
What are some prerequisites for initiating a funds transfer using NEFT?
What are some prerequisites for initiating a funds transfer using NEFT?
What advantage does NEFT offer over physical cheques or Demand Drafts?
What advantage does NEFT offer over physical cheques or Demand Drafts?
What should banks do if a customer is classified in a higher risk category?
What should banks do if a customer is classified in a higher risk category?
Why should banks contact locker-hirers if lockers remain un-operated for a certain period?
Why should banks contact locker-hirers if lockers remain un-operated for a certain period?
What did a recent incident involving a bank locker emphasize?
What did a recent incident involving a bank locker emphasize?
Why should banks have a clear procedure for breaking open lockers?
Why should banks have a clear procedure for breaking open lockers?
What is the main characteristic of Mutual Funds?
What is the main characteristic of Mutual Funds?
In the context of life insurance products, who is the contract between?
In the context of life insurance products, who is the contract between?
What is the key advantage for banks in selling third party products?
What is the key advantage for banks in selling third party products?
What type of insurance does non-life insurance primarily involve?
What type of insurance does non-life insurance primarily involve?
What is the first step for an investor when purchasing securities through a broker?
What is the first step for an investor when purchasing securities through a broker?
What happens on the pay-out day for the broker in a purchase transaction?
What happens on the pay-out day for the broker in a purchase transaction?
What documents does a claimant need to submit for ownership transmission of securities?
What documents does a claimant need to submit for ownership transmission of securities?
In a sale transaction, what action does the investor take before the pay-in day?
In a sale transaction, what action does the investor take before the pay-in day?
