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What is/are the requirement for due diligence in the case of opening a Savings account for a Self-Help Group?
  • a)
    Customer due diligence of only the available member(s) at the time of opening the account is mandatory
  • b)
    Customer due diligence of any two members is mandatory
  • c)
    Customer due diligence of only the office bearers is mandatory
  • d)
    Customer due diligence of all the members is mandatory
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is/are the requirement for due diligence in the case of opening a...
In the case of opening a Savings account for a Self-Help group, the due diligence of only the office bearers shall suffice. However, for credit linking of SHGs, the due diligence of all the members of the group is mandatory.
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What is/are the requirement for due diligence in the case of opening a Savings account for a Self-Help Group?a)Customer due diligence of only the available member(s) at the time of opening the account is mandatoryb)Customer due diligence of any two members is mandatoryc)Customer due diligence of only the office bearers is mandatoryd)Customer due diligence of all the members is mandatoryCorrect answer is option 'C'. Can you explain this answer?
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What is/are the requirement for due diligence in the case of opening a Savings account for a Self-Help Group?a)Customer due diligence of only the available member(s) at the time of opening the account is mandatoryb)Customer due diligence of any two members is mandatoryc)Customer due diligence of only the office bearers is mandatoryd)Customer due diligence of all the members is mandatoryCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about What is/are the requirement for due diligence in the case of opening a Savings account for a Self-Help Group?a)Customer due diligence of only the available member(s) at the time of opening the account is mandatoryb)Customer due diligence of any two members is mandatoryc)Customer due diligence of only the office bearers is mandatoryd)Customer due diligence of all the members is mandatoryCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is/are the requirement for due diligence in the case of opening a Savings account for a Self-Help Group?a)Customer due diligence of only the available member(s) at the time of opening the account is mandatoryb)Customer due diligence of any two members is mandatoryc)Customer due diligence of only the office bearers is mandatoryd)Customer due diligence of all the members is mandatoryCorrect answer is option 'C'. Can you explain this answer?.
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