Government Savings Banks Act 1873 MCQs

11. What happens to nomination after transferring a deposit?

(A) Remains valid
(B) It is cancelled
(C) It is updated
(D) Shared across accounts

[show_answer]The correct answer is: It is cancelled [/show_answer]

12. Who maintains the Schedule of Government Savings Schemes?

(A) RBI
(B) Economic Affairs Dept.
(C) Central Government
(D) State Governments

[show_answer]The correct answer is: Central Government [/show_answer]

13. Under this Act, who defines “Banking Company”?

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