SFB Loan Policies and Credit Facilities Quiz
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Questions and Answers

What is the purpose of enabling unencrypted mobile banking subject to RBI regulations?

  • To ensure transparency and security in mobile transactions
  • To provide a more secure mobile banking experience
  • To encourage more KCC holders to use mobile banking
  • To comply with RBI regulations on transaction limits (correct)

    • What type of solution is recommended for mobile based transaction platforms in the KCC?

  • Biometric authentication
  • Application based encryption
  • Interactive Voice Response (IVR) in local language
  • SMS based solution with authentication thru' MPIN (correct)

    • How can banks provide secured SMS based mobile banking facility to card holders?

  • By offering IVR in foreign languages
  • By implementing magnetic stripe and biometric authentication
  • By creating awareness about mobile banking
  • By providing call back facility from bank for mobile PIN (MPIN) verification through IVR (correct)

    • What should all KCC holders be provided with, according to the text?

    <p>A combination of different types of cards</p> Signup and view all the answers

    What recent relaxation has allowed banks to offer fully encrypted modes of transactions?

    <p>Relaxation on transaction limits</p> Signup and view all the answers

    What is the main reason for encouraging banks to create awareness and provide customer education about mobile based payment systems?

    <p>To ensure transparency and security in transactions</p> Signup and view all the answers

    In addition to IVR, what facility can banks provide for mobile PIN (MPIN) verification to ensure secure SMS based mobile banking?

    <p>Call back facility from bank for MPIN verification through IVR</p> Signup and view all the answers

    What should be the nature of transactions that are enabled on IVR in local language for KCC holders?

    <p>'Easy to use' transactions</p> Signup and view all the answers

    What is the main focus of the Master Direction DBR.Dir.No.85/13.03.00/2015-16?

    <p>Improving access of rural poor to banking services</p> Signup and view all the answers

    What is the role of the Working Group on NGOs and SHGs as mentioned in the text?

    <p>Linking of Self Help Groups with banks</p> Signup and view all the answers

    What is the subject of Master Direction - Know Your Customer (KYC) Direction, 2016?

    <p>Customer identification requirements</p> Signup and view all the answers

    What does the Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016, focus on?

    <p>Regulation of interest rates on advances</p> Signup and view all the answers

    What is the primary recommendation regarding Self Help Groups (SHGs) and banks?

    <p>Linking of SHGs with banks</p> Signup and view all the answers

    What is the purpose of the Credit Information Reporting in respect of Self Help Group (SHG) members?

    <p>To provide credit information about SHG members</p> Signup and view all the answers

    What does the Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016, aim to regulate?

    <p>Interest rates on deposits</p> Signup and view all the answers

    What is the primary goal of micro credit and micro finance as mentioned in the text?

    <p>Providing credit to the unorganized sector</p> Signup and view all the answers

    What does the Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016, focus on?

    <p>Regulation of interest rates on advances in urban areas</p> Signup and view all the answers

    What is the main objective of submitting progress reports under micro credit as per the text?

    <p>To monitor progress of microcredit organizations</p> Signup and view all the answers

    What is the frequency at which the progress under SHG-BLP should be reported to NABARD?

    <p>Quarterly</p> Signup and view all the answers

    When should the returns in the prescribed format be submitted to NABARD?

    <p>15 days from due date</p> Signup and view all the answers

    Which department of NABARD should the progress under SHG-BLP be reported to?

    <p>Micro Credit Innovations Department</p> Signup and view all the answers

    What is the date of the circular titled RPCD.PL.BC.28/04.09.22/99-2000?

    <p>July 24, 1998</p> Signup and view all the answers

    When was the circular RPCD.No.Plan.BC.61/04.09.22/2003-04 issued?

    <p>2004</p> Signup and view all the answers

    What is the significance of the circular RPCD.CO.MFFI.BC.No.103/12.01.01/2006-07?

    <p>Credit information reporting</p> Signup and view all the answers

    What do banks need to adhere to in respect of credit information reporting for SHG members?

    <p>All of the above</p> Signup and view all the answers

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