BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 1 lakh
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Rs 50000
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Rs 5 lakhs
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Rs 10 lakhs
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Detailed explanation-1: -You can deposit only INR 1 lakh cash in one shot in a Savings Account. Cash deposits in a Savings Account cannot exceed INR 10 Lakhs in a financial year. The RBI has set similar limits for Current Accounts, Fixed Deposits, and other banking transactions.
Detailed explanation-2: -Payment banks can take deposits up to Rs. 2, 00, 000. It can accept demand deposits in the form of savings and current accounts.
Detailed explanation-3: -As per the RBI guidelines, you can hold a maximum of ₹2 lakhs in your Paytm Payments Bank account at end of the day.
Detailed explanation-4: -There is no set limit to the amount of money you can deposit in a savings bank account or a digital savings bank account; you must evaluate your choices if you have a substantial amount of funds at your disposal if so you do not want to fall under the taxman’s eye.
Detailed explanation-5: -Payments bank are restricted to hold a maximum balance of Rs. 200, 000 per individual customer.