A depositor of your bank has made nomination in favour of an individual. He now requests you to record name of nominee in the FDR and Saving Bank pass book. What is true in this regard The fact that nomination has been done can be recorded on the pass book and FD but name of nominee can not be recorded. Bank may consider recording 10 years from the date of closure of account in respect of all records including transactions reported More than 3 years in respect of medium risk category customers and more than 1 year in respect of high risk effect from 1st April 2009, RBI has allowed withdrawals from ATMs of other banks without payment of any charge. In this regard, how much amount a current account general knowledge related to banking holder can These accounts are opened with the objective of greater financial inclusion Dealers may freely allow remittances by resident individuals up to USD 200,000 per financial year (April-March) for any permitted current or capital account transactions or a combination These can be used when bank is put unexpectedly to loss due to events such as civil unrest or collapse of currency in a country or natural calamities
Practice Exercise - 172 [ Banking Knowledge ]
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