ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    What is the maximum aggregate balance permitted in bank

    accounts opened using Aadhaar OTP-based e-KYC in a non-face-to-face mode?
    A тВ╣50,000 Correct Answer Incorrect Answer
    B тВ╣1,00,000 Correct Answer Incorrect Answer
    C тВ╣1,50,000 Correct Answer Incorrect Answer
    D тВ╣2,00,000 Correct Answer Incorrect Answer
    E тВ╣60,000 Correct Answer Incorrect Answer

    Solution

    тАв RBI allows Aadhaar OTP-based e-KYC for opening accounts in non-face-to-face mode, but with restrictions. тАв Such accounts cannot have an aggregate balance exceeding тВ╣1,00,000 at any time. тАв These accounts must be converted into full-KYC accounts within 1 year, failing which restrictions may apply. тАв This safeguard helps in risk mitigation and prevents misuse.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question