Multiple choice general knowledge

In an application for opening an account (for individuals only), which one of the following form part of types of accounts?

  1. HUF.

  2. FII.

  3. Bank.

  4. OCB.
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A Correct answer
Explanation

HUF (Hindu Undivided Family) is a valid account type that can be opened for individuals. HUF is recognized as a separate legal entity for taxation and investment purposes. FII (Foreign Institutional Investor) applies to institutions, not individuals. Banks and OCBs (Overseas Corporate Bodies) are not individual account types.

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