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.
Who has been appointed as the 26th Governor of the Reserve Bank of India (RBI)?
What is the theme of International Day of Education 2023?
Which state became the first in India to implement an AI-based real-time forest alert system?
As per Ind-Ra, what is the estimated benefit from RBI’s debt deferral measures for exporters under liquidity pressure?
According to a study led by the University of Michigan, what is the projected year by which the rate of groundwater depletion could triple in India if f...
Which of the following statements is/are correct in regards to the service sector in Economic Survey 2022-23?
- India is t...
- What is the targeted year by which ISRO aims to land an Indian on the Moon?
In a move to enhance security, integrity and privacy of financial sector data and bring transparency on fintechs in the country, the Reserve Bank of Ind...
Who is the winner of the 2022’s badminton tournament Super 750 held in Denmark?
- Madhav National Park, recently declared as India's 58th Tiger Reserve, is located in which district?
Relevant for Exams:
