GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As a bank officer, you shall not open a ____ account in the name of minor customer?
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Saving account
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Current Account
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Fixed Deposit Account
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Not open any of the above accounts
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Explanation:
Detailed explanation-1: -You need to submit the child’s birth certificate as age proof. The child must be below 18 years of age. As well as age proof, this is also required to establish your relationship with the minor. You need to submit your details, particularly PAN card information, as well.
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.
There is 1 question to complete.