BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which organization has decided to treat deposits to over Rs. 2 crore as ‘bulk’ as they doubled the limit for the same from the earlier Rs. 1 crore?
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SBI
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FICCI
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RBI
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NABARD
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Explanation:
Detailed explanation-1: -According to RBI guidelines, the term “Bulk Deposit” is used for a single Rupee Term Deposit of Rs. 1 crore and above.
Detailed explanation-2: -MSME Loan for New and Existing Businesses The maximum loan amount offered by Banks/NBFCs is up to Rs. 2 crore (Collateral-free loans) with the repayment tenure of up to 5 years, may exceed as per requirements. MSME loan interest rates shall vary, as per applicant’s profile and differ from lender to lender.
Detailed explanation-3: -The DICGC insures principal and interest upto a maximum amount of ₹ five lakhs.
Detailed explanation-4: -Bulk Deposit means Single Rupee term deposits of Rs. 2 crore and above.
There is 1 question to complete.