BANKING AFFAIRS

Detailed explanation-1: -What is Recurring Deposit Account (RD)? A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered by Indian Banks. It is an investment tool which allows people to make regular deposits and earn decent returns on the investment.

Detailed explanation-2: -TD stands for The Toronto-Dominion Bank, which together with its subsidiaries comprises TD Bank Group.

Detailed explanation-3: -Recurring deposits are savings instruments that help you to save on a monthly basis. You can save a certain amount every month for a fixed number of months. During the saving period, your deposits will earn interest on the outstanding balance including interest each month.

Detailed explanation-4: -A Recurring Deposit Account is abbreviated as R.D. Account. The maturity value of R.D. Account includes the amount deposited by the account holder together with interest compounded quarterly at a fixed rate.

Detailed explanation-5: -The seven Regional Directors (RD) are in-charge of the respective regions, each region comprising a number of States and Union Territories. They supervise the working of the offices of the Registrars of Companies and the Official Liquidators working in their regions.