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Maximum amount of Time Deposit which can be kept in the name of a minor is

ARs. 10,000

BRs. 30,000

CRs. 50,000

DUnlimited

Answer:

A. Rs. 10,000

Read Explanation:

Banks restrict the maximum time deposit for a minor to Rs. 10,000 to ensure minors are not exposed to high financial risk.


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Consider the following Statements related to sale of a property. Choose the Statements that are wrong.

  1. Any person with an interest can apply to set aside a sale on grounds of irregularity or fraud within 45 days from the date of sale.
  2. Where multiple executions are received against the same defaulter, assets are distributed among decree holders rateably.
  3. If a sale is adjourned for more than 7 days, a fresh proclamation of sale must be made.
  4. The sales officer must confirm the sale, if no objections are received within 15 days from the date of Proclamation.