17 March 2011
Term Deposit in bank - RBI Intervention - Pl help
One of my freinds wants to deposit an amount of Rs15 lakshs in bank for 1 year term deposit ( for an interest rate of 9.75%). she is been advised by bankers that, better to split the amount and deposti to avoid the RBI intervention.
Dear experts, kindly give ur valuable suggetions to get cleared by this doubt as interest amount is the only source of her income and she is completely depending on this amount to survive.
19 March 2011
So long as the deposit amount is legitimate and properly accountable as to its source of accumulation SHE need not be scared of any such routine reporting with reference to her PAN which she would be having by now or has to obtain for satisfying KYC norms of RBI at the Bank;
CAclubindia
