BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
By opening account in the name of minor
|
|
|
By allowing savings account to minors under guardianship
|
|
|
By allowing them to come to the bank for depositing money
|
|
|
By going to schools
|
Detailed explanation-1: -Being familiar with their finances through operating a Savings Bank Account from childhood can make your child a financially responsible adult in the future. Hence, the best way to ensure your child becomes financially literate and accountable is to open their own Savings Account at an early age.
Detailed explanation-2: -Hence, there should be a guardian according to law to deal with minor’s property. The father is the natural guardian, and after his demise, the mother. The court in suitable cases may appoint a court guardian, Hence, the general rule is. that the Guardian may open and operate the Bank Account on behalf of the minor.
Detailed explanation-3: -2.4 The new guardian must be a natural guardian (i.e. father or mother) or a court appointed legal guardian and the new guardian’s name & signature should have been registered as the guardian with the minor’s bankers in respect of the minor’s bank account. 2.4.
Detailed explanation-4: -Eligibility. PehlaKadam : Minor of any age. This account will be jointly opened with the parent/guardian. PehliUdaan : Minors above the age of 10 years and who can sign uniformly.