Bank Promotion Exam Guide

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Module: General Practice

Q22: Which of the following statements regarding Common Guidelines is incorrect?

A

Each loan must be classified in only one category.

B

Banks must acknowledge receipt of loan applications.

C

For SHGs, the service charge exemption limit applies to the group as a whole.

D

Interest rates must follow RBI Directions. [QR_BOX]

✅ Correct Answer: C

In Priority Sector Lending, the service charge exemption limit for SHGs applies per member, not to the group as a whole.

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