BANKING AFFAIRS

Detailed explanation-1: -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: -Retail liability products are where the banks pay interest to the customers when they park their surplus funds or invest them. These include savings accounts, fixed deposits, recurring deposits, and NRI deposits.

Detailed explanation-3: -Liabilities of a bank may be in the form of demand or time deposits or borrowings or other miscellaneous items of liabilities.

Detailed explanation-4: -Recurring Deposit scheme provides an opportunity to build up savings through regular monthly deposit of fixed sum over a period and have sufficient funds to achieve specific financial goals at the end of specific period.