Government Savings Banks Act 1873 MCQs – Prepare effectively for the IPO Exam with our updated multiple-choice questions covering key postal rules, Swachh Bharat Abhiyan, departmental procedures, acts, and general awareness. Designed as per the latest exam pattern, these MCQs are ideal for self-assessment, daily practice, and boosting confidence. Perfect for focused and targeted IPO exam preparation.
1. What is the primary objective of the Government Savings Banks Act, 1873?
(A) To provide loans through postal banks
(B) To manage private investments
(C) To regulate and channel public savings into Government Savings Schemes
(D) To merge nationalised banks
2.The Government Savings Banks Act, 1873 extends to which of the following?
(A) Only Union Territories
(B) All Indian states excluding J&K
(C) Whole of India, including Sikkim
(D) Only metropolitan cities
3. Through which notification was the Act extended to Sikkim?
(A) RBI Notification
(B) Ministry of Finance Notification
(C) Ministry of Home Affairs Notification No. F.11013/1/82-SKM dated 22.07.1983
(D) Ministry of Law Notification
4. Who is considered an Administrator under this Act?
(A) Postmaster General
(B) Nominee of depositor
(C) Auditor
(D) Person appointed under Indian Succession Act, 1925
5. Who authorizes an officer in a Post Office Savings Bank
(A) Ministry of Finance
(B) Director General, Posts
(C) RBI
(D) State Government
6. What does the term “Depositor” mean under the Act?
(A) Demat account holder
(B) Loan applicant
(C) Person depositing money in Government Savings Bank
(D) Nominee
7. Minimum age for a minor to independently operate an account under a Government Savings Scheme?
(A) 12 years
(B) 18 years
(C) 5 years
(D) 10 years
8. If a minor is nominated, what should be done for smooth transfer?
(A) Nominate an adult instead
(B) Appoint a person to receive the amount during the nominee’s minority
(C) Cancel nomination
(D) Give bank instructions
9. What happens if the nominee predeceases the depositor?
(A) Deposit goes to bank reserve
(B) Deposit is forfeited
(C) Nomination becomes void
(D) Nomination is updated
10. Who makes a nomination if the depositor is of unsound mind?
(A) Sibling
(B) Spouse
(C) Court-appointed guardian
(D) Government officer
