Module: | Capital Adequacy, Basel Norms & Monetary Policy
Q16: Which of the following limitations apply to a "Small Account"?
1. The aggregate of all credits in a financial year does not exceed Rupees One Lakh.
2. The aggregate of all withdrawals and transfers in a month does not exceed ₹10,000.
3. The balance at any point of time does not exceed ₹50,000.
4. The account can only be opened at Core Banking Solution (CBS) linked branches.
2. The aggregate of all withdrawals and transfers in a month does not exceed ₹10,000.
3. The balance at any point of time does not exceed ₹50,000.
4. The account can only be opened at Core Banking Solution (CBS) linked branches.
✅ Correct Answer: D
Small accounts entail: aggregate credits ≤ ₹1 Lakh/year, withdrawals ≤ ₹10,000/month, balance ≤ ₹50,000, and must be opened at CBS linked branches (or branches where manual monitoring is possible).