New NABARD Workshop - Last 4 year trend. March 5 at 5 PM. Register here

    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

    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.

    Practice Next