At present many public sector banks and one private sector bank are authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004. Name the private sector bank, which is authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004?

BANKING GENERAL KNOWLEDGE

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

A	ICICI Bank
B	HDFC Bank
C	Axis Bank
D	Yes Bank

Explanation:

Detailed explanation-1: -An individual who has attained the age of 60 years or above on the date of opening of an account or an individual who has attained the age of 55 years or more but less than 60 years and has retired under Superannuation, VRS or Special VRS, can open an account.

Detailed explanation-2: -Senior Citizen Savings Scheme (SCSS) is a government-sponsored savings instrument launched in 2004, intending to provide senior citizens with a steady and secure source of income for their post-retirement life. .

Detailed explanation-3: -Yes, investments made in SCSS are eligible for income tax deduction benefits under the Section 80C of Income Tax Act, 1961.

There is 1 question to complete.