Multiple choice general knowledge

Once the beneficial owner account is opened, can the details regarding Name & Type of Account be changed?

  1. No.

  2. Yes, with the prior approval of SEBI.

  3. Yes, with the prior approval of RBI.

  4. Yes, No approval is necessary.
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A Correct answer
Explanation

Once a beneficial owner account is opened, the name and type of account cannot be changed. These are fundamental account details established at opening. For any changes to name or account type, a new account would need to be opened.

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