BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Commercial bank
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Post office
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Co-operative bank
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RBI
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Detailed explanation-1: -BC 151/C. 347-85 dated December 27, 1985, as amended from time to time, regarding prohibition against opening of savings bank accounts in the name of Government departments/local bodies, etc. who are dependent upon budgetary allocations/grants for performance of their functions.
Detailed explanation-2: -Political parties These Institutions / Organisations are specifically excluded from opening SB Accounts with Banks and earn interest thereon and hence branches are prohibited from opening such Accounts.
Detailed explanation-3: -Maximum balance in the account should not exceed fifty thousand rupees at any time. The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month. Remittances from abroad can not be credited to Small Accounts without completing normal KYC formalities.