Question

What shall be credited to the Depositor Education and Awareness Fund as laid down under the Banking Regulation Act?

A The amount to the credit of any account in India with a banking company which has not been operated upon for a period of ten years Correct Answer Incorrect Answer
B Any deposit or any amount remaining unclaimed for more than ten years, within a period of three months from the expiry of the said period of ten years Correct Answer Incorrect Answer
C The amount to the credit of any account in India with a banking company which has been operated upon for a period of ten years Correct Answer Incorrect Answer
D Either a or b Correct Answer Incorrect Answer
E Either a or c Correct Answer Incorrect Answer

Solution

Section 26A. Establishment of Depositor Education and Awareness Fund: (2) There shall be credited to the Fund the amount to the credit of any account in India with a banking company which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years, within a period of three months from the expiry of the said period of ten years. 

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