alleryCan an account be denied only because nomination was refused?
AYes, for a firm
BYes, for a trust
CNo, it may not
DYes, it always may
Answer & Solution
Correct answer: C. No, it may not
1. Every other requirement must still be met.
2. Refusing nomination is the customer's right.
3. The account must not be denied or delayed for it.
_Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_
Keep practising RBI Act & BR Act
Browse all RBI Act & BR Act questions for IBPS Clerk, or explore more Banking Awareness topics.
Related questions
Match each banking compliance restriction with its section:Match each regulatory control power under the Banking Regulation Act with its section:Match each key section of Banking Regulation Act 1949 with its legal mandate:Match each vital section of RBI Act 1934 with its statutory provision:Pick the right section, quicklySpot the one that does not fitOrder the sections as they appearFill the gaps in the RBI Act