📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    Question

    When a minor aged 10 years opens a savings bank account

    independently, which of the following restrictions typically applies?
    A Cannot issue cheques or debit cards Correct Answer Incorrect Answer
    B Cannot operate internet banking Correct Answer Incorrect Answer
    C Cannot overdraw or avail credit facilities Correct Answer Incorrect Answer
    D Cannot make ATM withdrawals Correct Answer Incorrect Answer
    E Cannot nominate a beneficiary Correct Answer Incorrect Answer

    Solution

    RBI prohibits banks from offering overdraft or credit facilities on minors’ independently operated accounts.

    Practice Next
    More Previous year papers Questions

    Relevant for Exams:

    ask-question