GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fixed deposits cannot be
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Transferred to third parties
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Pre-paid before the maturity date
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Renewed for a further period on maturity date
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None of these
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Explanation:
Detailed explanation-1: -“Unless there’s an underlying legal business transaction for the bank or it is an ‘interested party’, it will not oblige to mark a lien on deposit of its customers in favor of non-customers.
Detailed explanation-2: -The new FD rule is related to interest being paid on unclaimed or overdue FDs. As per the new rule, if a term deposit matures and proceeds are unpaid, the unclaimed amount will now earn a lesser interest rate.
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