BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Minors
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Married women
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Senior citizens
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Govt. employees
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Detailed explanation-1: -The Domestic & NRO Rupee Term Deposits can be opened for minimum period of 7 days and maximum up to 10 Years. For NRE Term Deposits, minimum period is 1 Year and maximum up to 10 Years.
Detailed explanation-2: -A statutory directive issued by the Reserve Bank in exercise of the powers conferred under Section 35 A of the Banking Regulation Act, 1949.
Detailed explanation-3: -Reserve Bank of India (RBI), the central banking institution of India controls the monetary policy of the Indian currency. The key repo rate has been hiked on 7 December 2022 by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) by 35 basis point to 6.25%.
Detailed explanation-4: -15 lakh and above for a minimum maturity period of 7 days and in the case of term deposits of less than Rs. 15 lakh, the minimum maturity period has to be 15 days. 2.