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    Question

    Which of the following is not permitted in a Small

    Account under RBI’s KYC Directions?
    A Monthly deposits exceeding ₹50,000 Correct Answer Incorrect Answer
    B Transactions exceeding ₹10,000 in a month Correct Answer Incorrect Answer
    C Foreign remittance credits Correct Answer Incorrect Answer
    D Annual credits exceeding ₹1,00,000 Correct Answer Incorrect Answer
    E Withdrawal of government subsidies Correct Answer Incorrect Answer

    Solution

    • Small Accounts are designed to promote financial inclusion but with restricted operations until full KYC is completed. • Key restrictions include: o Balance limit: ₹50,000 at any time. o Monthly withdrawal/transfer limit: ₹10,000. o Annual aggregate credits: ₹1,00,000. • However, foreign remittances are not allowed in Small Accounts unless the account holder completes full KYC procedures. • Domestic credits like government subsidies, DBT (Direct Benefit Transfer), wages, etc. are permitted.

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