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Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer?.

Solutions for Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.

Here you can find the meaning of Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: A bank has a large number of customers who are not individuals but are entities like partnerships, companies, trusts, and associations. These entities hold different types of accounts with the bank, such as current accounts, savings accounts, term deposits, and foreign currency accounts. The bank has to ensure that the accounts of these entities comply with the relevant laws and regulations and that the transactions are consistent with the purpose of the account. The bank has a dedicated team of professionals who handle these accounts and ensure that they comply with the law. Banks should also inform the authorized signatories of any issues with the account and advise them to take appropriate measures to safeguard the funds.Q. Which of the following rules is incorrect regarding the obtaining of Photographs of account holders?a)In the case of a minors account, the photograph of both, the minor as well as the guardian operating the account is neededb)The photograph should be recent and the cost is to be borne by the customerc)In the case of a HUF, the photograph of only Karta is neededd)In case of the absence of the customers recent photograph, only the photocopy of an OVD with the recent photograph is allowedCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Banking Exams tests.