BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 40, 000/
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Rs. 50, 000/
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Rs. 10, 00, 000/
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Rs. 10, 000/-
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Detailed explanation-1: -PAN is currently required for cash deposits of Rs 50, 000 or more per day. With these restrictions, a total annual threshold of Rs 20 lakh has been set. From which date it is applicableOn May 10, 2022, the Central Board of Direct Taxes (CBDT) issued a notification in this regard.
Detailed explanation-2: -Certain types of Cash transactions have serious consequences. Certain types of Cash transactions have serious consequences. No person is permitted to accept Rs. 20, 000 or more in cash a) for any loan or deposit or b) any amount in relation to transfer of any immovable property (even if transfer does not take place).
Detailed explanation-3: -Bank or Wire Transfer: It is an electronic transfer from one financial entity to another using a network known as SWIFT. It is one of the most common, efficient and rapid means of money transfer to India. Wire transfer is through your bank. The bank levies a fee depending on the amount.