JAIIB Paper 2 Module A Quiz 3

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Question 1 of 20

1. Question
In the context of account opening, which option is the most accurate?
- Complete applicable onboarding checks before normal operations
- Open every account on a blank signed form
- Skip screening if the customer is referred by an employee
- Allow unrestricted operations before verification
Correct

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 2 of 20

2. Question
During an audit, a reviewer checks the branch‘s handling of account opening. Which practice is compliant?
- Allow unrestricted operations before verification
- Open every account on a blank signed form
- Skip screening if the customer is referred by an employee
- Complete applicable onboarding checks before normal operations
Correct

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 3 of 20

3. Question
Which of the following is the soundest operational approach to account opening?
- Skip screening if the customer is referred by an employee
- Open every account on a blank signed form
- Complete applicable onboarding checks before normal operations
- Allow unrestricted operations before verification
Correct

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 4 of 20

4. Question
A transaction raises a question concerning account opening. Which principle should guide the bank?
- Complete applicable onboarding checks before normal operations
- Allow unrestricted operations before verification
- Open every account on a blank signed form
- Skip screening if the customer is referred by an employee
Correct

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 5 of 20

5. Question
Which statement about account opening is correct?
- Open every account on a blank signed form
- Skip screening if the customer is referred by an employee
- Complete applicable onboarding checks before normal operations
- Allow unrestricted operations before verification
Correct

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Complete applicable onboarding checks before normal operations. Account opening requires proper due diligence; referrals do not waive regulatory requirements. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 6 of 20

6. Question
A customer visits a branch with a request relating to minor account. Which response is appropriate?
- A guardian is never relevant
- Follow the bank‘s policy and applicable rules on guardian/minor operation
- Every minor can operate any account without conditions
- A minor‘s account must always be closed on turning 10
Correct

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 7 of 20

7. Question
A JAIIB candidate is asked about minor account. Which answer should be selected?
- A guardian is never relevant
- Every minor can operate any account without conditions
- Follow the bank‘s policy and applicable rules on guardian/minor operation
- A minor‘s account must always be closed on turning 10
Correct

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 8 of 20

8. Question
A new officer must apply the rules for minor account. Which action is correct?
- Follow the bank‘s policy and applicable rules on guardian/minor operation
- A minor‘s account must always be closed on turning 10
- Every minor can operate any account without conditions
- A guardian is never relevant
Correct

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 9 of 20

9. Question
A bank must handle a case involving minor account. What should it do?
- Follow the bank‘s policy and applicable rules on guardian/minor operation
- Every minor can operate any account without conditions
- A guardian is never relevant
- A minor‘s account must always be closed on turning 10
Correct

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 10 of 20

10. Question
Which option best describes the rule an officer should apply to minor account?
- A guardian is never relevant
- A minor‘s account must always be closed on turning 10
- Follow the bank‘s policy and applicable rules on guardian/minor operation
- Every minor can operate any account without conditions
Correct

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the bank‘s policy and applicable rules on guardian/minor operation. Minor operation depends on age, capacity, product terms, law and bank policy. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 11 of 20

11. Question
In the context of joint account mandate, which option is the most accurate?
- Allow any one holder to override the mandate
- Change the mandate without required consent
- Follow the recorded mandate for the account
- Ignore the mandate if one holder visits the branch
Correct

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 12 of 20

12. Question
During an audit, a reviewer checks the branch‘s handling of joint account mandate. Which practice is compliant?
- Allow any one holder to override the mandate
- Change the mandate without required consent
- Ignore the mandate if one holder visits the branch
- Follow the recorded mandate for the account
Correct

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 13 of 20

13. Question
Which of the following is the soundest operational approach to joint account mandate?
- Follow the recorded mandate for the account
- Change the mandate without required consent
- Ignore the mandate if one holder visits the branch
- Allow any one holder to override the mandate
Correct

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 14 of 20

14. Question
A transaction raises a question concerning joint account mandate. Which principle should guide the bank?
- Allow any one holder to override the mandate
- Change the mandate without required consent
- Ignore the mandate if one holder visits the branch
- Follow the recorded mandate for the account
Correct

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 15 of 20

15. Question
Which statement about joint account mandate is correct?
- Follow the recorded mandate for the account
- Allow any one holder to override the mandate
- Change the mandate without required consent
- Ignore the mandate if one holder visits the branch
Correct

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: Follow the recorded mandate for the account. The mandate governs how joint holders may operate the account. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 16 of 20

16. Question
A customer visits a branch with a request relating to nomination. Which response is appropriate?
- It replaces identity verification of the claimant
- It transfers the bank‘s ownership of the branch
- It facilitates receipt of the deposit proceeds from the bank
- It always extinguishes all heirs‘ claims
Correct

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 17 of 20

17. Question
A JAIIB candidate is asked about nomination. Which answer should be selected?
- It facilitates receipt of the deposit proceeds from the bank
- It always extinguishes all heirs‘ claims
- It replaces identity verification of the claimant
- It transfers the bank‘s ownership of the branch
Correct

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 18 of 20

18. Question
A new officer must apply the rules for nomination. Which action is correct?
- It transfers the bank‘s ownership of the branch
- It always extinguishes all heirs‘ claims
- It replaces identity verification of the claimant
- It facilitates receipt of the deposit proceeds from the bank
Correct

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 19 of 20

19. Question
A bank must handle a case involving nomination. What should it do?
- It transfers the bank‘s ownership of the branch
- It always extinguishes all heirs‘ claims
- It replaces identity verification of the claimant
- It facilitates receipt of the deposit proceeds from the bank
Correct

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Question 20 of 20

20. Question
Which option best describes the rule an officer should apply to nomination?
- It always extinguishes all heirs‘ claims
- It transfers the bank‘s ownership of the branch
- It replaces identity verification of the claimant
- It facilitates receipt of the deposit proceeds from the bank
Correct

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Incorrect

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.

Unattempted

Correct answer: It facilitates receipt of the deposit proceeds from the bank. Nomination is a payment-discharge mechanism; succession rights may be separate. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.