BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following types of accounts are known as ‘Demat Accounts’? [IBPS 2011]
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Accounts which are Zero Balance Accounts
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Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there.
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Accounts in which shares of various companies are traded in electronic form
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Accounts which are operated through internet banking facility
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Explanation:
Detailed explanation-1: -Answer» A. Accounts in which share of various companies are traded in electric form.
Detailed explanation-2: -DEMAT account is also known as dematerialized account. Shares and securities which can be held in electronic format constitute the DEMAT account. In India, DEMAT accounts are maintained by two depository organizations, National Security Depository Limited and Central Depository Services Limited.
Detailed explanation-3: -The regular, repatriable and non-repatriable Demat accounts are different based on their functionalities. Demat accounts can be categorized into 2-in-1 accounts and 3-in-1 accounts.
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