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What is the primary purpose of a PPF (Public Provident Fund) account?

To facilitate high-risk, high-reward investments

To provide short-term savings for immediate expenses

To encourage long-term savings for retirement planning

To support daily transactional banking needs

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When was the PPF scheme introduced in India?

1985

1968

2004

1992

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Which Indian Ministry is responsible for overseeing the PPF scheme?

Ministry of Commerce and Industry

Ministry of Home Affairs

Ministry of Finance

Ministry of External Affairs

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What is the key benefit of checking your PPF account balance regularly?

To identify potential fraudulent activities

To predict future stock market trends

To track interest earnings and overall balance growth

To compare PPF returns with other investment options

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What is a significant advantage of a PPF account in terms of borrowing?

It allows borrowing from multiple banks simultaneously

It offers loans at significantly lower interest rates than market rates

It provides the option to take a loan against the accumulated balance

It enables borrowing funds for business ventures without a business plan

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What is the recommended frequency for checking your PPF balance?

Daily

Weekly

Monthly

At least annually

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Which of the following methods can be used to check your PPF account balance?

Contacting the Reserve Bank of India (RBI)

Visiting the nearest stock exchange

Checking online through your linked bank's portal

Sending a written request to the Ministry of Finance

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What is a prerequisite for checking your PPF balance online?

Having a Demat account with a registered stockbroker

Linking your PPF account to an existing savings account at the bank

Maintaining a minimum balance in your PPF account

Investing in mutual funds through the same bank

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What is the primary method for checking your PPF balance offline?

Calling the bank's customer service hotline

Using a dedicated mobile application for PPF accounts

Visiting the bank branch and updating your passbook

Sending an email request to the bank's PPF department

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What is a key advantage of using banking kiosks for PPF balance checks?

They offer personalized financial advice

They provide access to international fund transfers

They allow 24/7 availability for passbook updates

They facilitate direct stock market investments