GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The annual return of unclaimed deposits u/s 26 of Banking Regulation Act should be submitted to RBI within the following days after close of the calendar year -
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10 days
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20 days
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30 days
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40 days
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Explanation:
Detailed explanation-1: -Reserve Bank of India (RBI) classifies a deposit as unclaimed when a customer doesn’t make any transaction in the account for 10 years or more.
Detailed explanation-2: -Section 29 in BANKING REGULATION ACT, 1949.
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