GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Illiterate Persons are allowed to open?
|
|
Current account
|
|
|
Savings account
|
|
|
Not allowed to open bank account
|
|
|
Only savings account (without cheque facility) or fixed deposit account
|
Explanation:
Detailed explanation-1: -The account of such person may be opened provided he/she calls on the Bank personally along with a witness who is known to both the depositor and the Bank. Normally, no cheque book facility is provided for such Savings Bank Account.
Detailed explanation-2: -2.2 Savings accounts do not include a cheque facility.
Detailed explanation-3: -In case of death, the other joint holder can easily operate the account without legal issues. Illiterate persons can also open accounts jointly with a literate family member and enjoy the safety and benefits of bank accounts.
There is 1 question to complete.