Question
What is the maximum term loan sanction allowed for
accounts opened using Aadhaar OTP-based e-KYC?Solution
• RBI permits opening of bank accounts using Aadhaar OTP-based e-KYC, but such accounts face restrictions due to limited verification. • One such restriction is that borrowal accounts under this category cannot have term loan sanctions exceeding ₹60,000 in a year. • This acts as a risk-control measure, ensuring that higher-value credit is extended only after full KYC compliance. Thus, the maximum sanction is ₹60,000 per year.
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