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Bank audit- fixed deposit

This query is : Resolved 
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(Querist)
18 August 2017 Kindly solve my query
Can bank give fixed deposit maturity amount in cash to customer? If no then according to which section?
Thanks in advancr
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
22 August 2017 Kindly Refer section 269SS/ST As per bank cannot give maturity amount directly rather the bank should transfer the maturity amount to his/her bank account
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 October 2021 But for amount less than the specified limit, the cash payment is allowed.
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