As per the Debit card Insurance package policy, The claims can be lodged within a maximum period of ..... days from the date of occurrence of disputed transactions.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

As per the Debit card Insurance package policy, The claims can be lodged within a maximum period of ____ days from the date of occurrence of disputed transactions.

A	30
B	45
C	60
D	90

Explanation:

Detailed explanation-1: -Claim intimation should be within Ninety (90) days from the date of accident. In case where a person is hospitalized (and under a critical condition) and is unable to file claim within 90 days of loss/incident such claim cases will be accepted by The New India Assurance Co. Ltd.

Detailed explanation-2: -Cash withdrawal using debit cards and full-KYC prepaid cards at PoS terminals has been allowed by Reserve Bank of India (RBI) whereby, a maximum of ₹2, 000 can be withdrawn per transaction within an overall monthly limit of ₹10, 000.

Detailed explanation-3: -Personal Air Accidental Insurance (Death):This insurance covers the Debit Cardholder for air accidental death only, to the extent as applicable on the type of Debit Card variant held.

Detailed explanation-4: -Disadvantages of debit card There are certain disadvantages associated with using a debit card: No credit allowed: A debit card is linked to your bank account. There is no possibility of making any transaction on credit. All transactions and withdrawals are limited to the balance available in your account.

Detailed explanation-5: -Issue of Debit Card Prior approval of the Reserve Bank is not necessary for banks desirous of issuing debit cards to their customers. b) Debit cards shall only be issued to customers having Savings Bank/Current Accounts. c) No bank shall issue debit cards to cash credit/loan account holders.

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