GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Certificate of deposits have a minimum value of____?
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Rs 1 lakh
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Rs 10 lakh
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Rs 200 lakh
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Rs 1 crore
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Explanation:
Detailed explanation-1: -CDs can be issued in India for a minimum deposit of ₹1 lakh and in subsequent multiples of it. Scheduled Commercial Banks (SCBs) and All-India Financial Institutions are eligible to issue a CD. Cooperative Banks and RRBs cannot issue a CD. CDs issued by SCBs have in term period anywhere between 3 months to a year.
Detailed explanation-2: -There’s no limit on the number of CDs you can have and it’s possible to have multiple CDs at the same bank or different financial institutions.
There is 1 question to complete.