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

When was the PPF scheme introduced in India?

1985 1968 2004 1992

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

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

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

What is the recommended frequency for checking your PPF balance?

Daily Weekly Monthly At least annually

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

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

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

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