GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An Individual can have what number of ‘Basic Savings Bank Deposit Account’ in one bank?
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Only one
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Only two
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Only three
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Only four
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Explanation:
Detailed explanation-1: -Can an Individual have any number of ‘Basic Savings Bank Deposit Account’ in one bank ? No. An individual is eligible to have only one ‘Basic Savings Bank Deposit Account’ in one bank.
Detailed explanation-2: -Accounts can be opened by Individuals. Opening of Joint account with operational clause ‘either or Survivor’ etc is also allowed. However number of account holders is restricted to two only.
Detailed explanation-3: -The Basic Saving Bank Deposit Account should be considered as normal banking service. This account shall not have the requirement of any minimum balance.
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