alleryIf the customer will not sign that declaration, the bank must:
ARestrict the account
BRecord the refusal
CRefuse the account
DReturn the deposit
Answer & Solution
Correct answer: B. Record the refusal
1. The account cannot be denied on this ground.
2. But the fact must not be lost.
3. The refusal is recorded in the opening records.
_Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_
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