BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Core banking
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Credit banking
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Debit banking
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Piggy banking
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Detailed explanation-1: -SBI Savings Account for Minors.
Detailed explanation-2: -A savings account is an interest-bearing deposit account held at a bank or other financial institution.
Detailed explanation-3: -A zero-balance account refers to a savings bank account, which has a zero balance in it and yet not charged. It is legally known as Basic Savings Bank Deposit (BSBD) account as per the Reserve Bank of India (RBI) guideline. The facility is provided by banks to encourage more savings among people.
Detailed explanation-4: -Some historians, trace the genesis of the savings movement to 1834, when the first savings bank was established in Calcutta by the Government. However, the Government Savings Bank Act was passed in 1873, and it was in 1882 that the Post Office Savings Bank of India came into existence.