An EEFC account can be held only in the form of a ________ A. Current Account B. Savings Bank Account C. loan Account D. All of the Above E. None of the Above

An EEFC account can be held only in the form of a ________ A. Current Account B. Savings Bank Account C. loan Account D. All of the Above E. None of the Above
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A. Current Account Explanation: An EEFC(Exchange Earners‘ Foreign Currency Account) account can be held only in the form of a current account. No interest is payable on EEFC accounts.
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An EEFC account can be held only in the form of ________ A. Savings Bank Account B. Deposit Account C. Current Account D. Both (B) and (C) E. None of the Above

Description : An EEFC account can be held only in the form of ________ A. Savings Bank Account B. Deposit Account C. Current Account D. Both (B) and (C) E. None of the Above

Last Answer : C. Current Account Explanation: An EEFC account can be held only in the form of a current account. No interest is payable on EEFC accounts.

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Description : ________ is a temporary pass through account held by a third party during the process of a transaction between two parties. A. Savings Bank Account B. Current Account C. Deposit Account D. Escrow Account E. None of the Above

Last Answer : D. Escrow Account Explanation: Escrow Account: Account in which funds are accumulated for specific disbursements. It is a temporary pass through account held by a third party during the process of a transaction between two parties.

Which of the following percentage of foreign exchange earnings can be credited to the EEFC account? A. 80% B. 90% C. 75% D. 95% E. 100%

Description : Which of the following percentage of foreign exchange earnings can be credited to the EEFC account? A. 80% B. 90% C. 75% D. 95% E. 100%

Last Answer : E. 100% Explanation: under EEFC account, a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account. ... have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.

Who is/are eligible to open an EEFC Account? A. Individuals B. Companies C. Residents of India D. Both (B) and (C) E. All of the Above

Description : Who is/are eligible to open an EEFC Account? A. Individuals B. Companies C. Residents of India D. Both (B) and (C) E. All of the Above

Last Answer : E. All of the Above Explanation: All categories of foreign exchange earners, such as individuals, companies, etc., who are resident in India, may open EEFC accounts.

An account which is maintained by depositing undistributed parts of profit for future needs is known as ________ A. Savings Account B. Current Account C. Reserve Account D. None of the Above

Description : An account which is maintained by depositing undistributed parts of profit for future needs is known as ________ A. Savings Account B. Current Account C. Reserve Account D. None of the Above

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An account for which a bank acts as an uninterested third party is termed as _______ A. Savings Account B. Current Account C. Reserve Account D. Escrow Account

Description : An account for which a bank acts as an uninterested third party is termed as _______ A. Savings Account B. Current Account C. Reserve Account D. Escrow Account

Last Answer : D. Escrow Account Explanation: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties. Definition: An escrow account ... pass through account held by a third party during the process of a transaction between two parties.

A trad-able form of loan is normally termed as ________ A. Certificate of Deposit (CD) B. Inter Bank term Money C. Bill Re-discounting D. Debt Instrument E. None of the Above

Description : A trad-able form of loan is normally termed as ________ A. Certificate of Deposit (CD) B. Inter Bank term Money C. Bill Re-discounting D. Debt Instrument E. None of the Above

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How many Basic Savings Bank Deposit Account(BSBDA) can be opened by an individual? A. One B. Two C. Three D. Four E. None of the Above

Description : How many Basic Savings Bank Deposit Account(BSBDA) can be opened by an individual? A. One B. Two C. Three D. Four E. None of the Above

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What is the minimum initial deposit required for opening a Basic Savings Bank Deposit Account(BSBDA)? A. 500 B. 1000 C. 100 D. No initial deposit

Description : What is the minimum initial deposit required for opening a Basic Savings Bank Deposit Account(BSBDA)? A. 500 B. 1000 C. 100 D. No initial deposit

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A type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off his all previous debts is termed as ________ A. Debt Recovery B. Debt Settlement C. Debt Management D. Debt Consolidation

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Banks can not generally accept interest-free deposits. which of the following is an exception to this rule? A. Current Account B. Savings Account of Minors C. Deposit from Minority groups D. BSBDA E. None of the Above

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Description : Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

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UPI will eliminate the need of entering ________ details A. Bank Account Number B. IFSC Code C. CVV code D. All of the Above E. None of the Above.

Description : UPI will eliminate the need of entering ________ details A. Bank Account Number B. IFSC Code C. CVV code D. All of the Above E. None of the Above.

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Description : When a customer opens a bank savings account the bank essentially becomes a(n) .?

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Description : What are the interest rates for a savings account from Chase bank?

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Description : What bank offers the best savings account?

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Description : Which bank in has the highest interest in checking and savings account?

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Is us bank routing number 541210032 a checking account or savings account?

Description : Is us bank routing number 541210032 a checking account or savings account?

Last Answer : Answers is the place to go to get the answers you need and to ask the questions you want

In National Savings Certificates, investment up to ________ per annum qualifies for IT Rebate under section 80C of Income Tax Act. A. Rs.10 lakh B. Rs.2 lakh C. Rs.5 lakh D. Rs.1 lakh

Description : In National Savings Certificates, investment up to ________ per annum qualifies for IT Rebate under section 80C of Income Tax Act. A. Rs.10 lakh B. Rs.2 lakh C. Rs.5 lakh D. Rs.1 lakh

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Description : Balance in a current account is classified as ________ A. Hybrid Deposit B. Term Deposit C. Demand Deposit D. Flexi Deposit E. other than those given as options

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Which of the following does not have savings account? A. NRE Account B. NRO Account C. FCNR(B) Account D. Both (A) and(C) E. All of the Above

Description : Which of the following does not have savings account? A. NRE Account B. NRO Account C. FCNR(B) Account D. Both (A) and(C) E. All of the Above

Last Answer : C. FCNR(B) Account Explanation: Non-Resident (External) Rupee Account Scheme[NRE Account]: Savings, Current, Recurring, Fixed Deposit Foreign Currency (Non-Resident) Account (Banks) Scheme [ ... Non-Resident Ordinary Rupee Account Scheme [NRO Account]: Savings, Current, Recurring, Fixed Deposit.

Which of the following services is NOT provided by the post offices in India ? A. Savings Bank Scheme B. Retailing of Mutual Funds C. Sale of stamp Papers (Judicial) D. Issuance of Demand Drafts E. Life Insurance cover

Description : Which of the following services is NOT provided by the post offices in India ? A. Savings Bank Scheme B. Retailing of Mutual Funds C. Sale of stamp Papers (Judicial) D. Issuance of Demand Drafts E. Life Insurance cover

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Maximum loan size to a single person cannot exceed ________ of total capital funds. A. 30% B. 20% C. 11% D. 10% E. None of the Above

Description : Maximum loan size to a single person cannot exceed ________ of total capital funds. A. 30% B. 20% C. 11% D. 10% E. None of the Above

Last Answer : D. 10% Explanation: Maximum loan size to a single person cannot exceed 10% of total capital funds; cannot exceed 15% in the case of a group. Small finance bank can lend 75% of their total adjusted ... capital funds to single borrower, 15% to a group Minimum 50% of loans should be up to 25 lakhs.

Consider the following schemas: Branch = (Branch-name, Assets, Branch-city) Customer = (Customer-name, Bank-name, Customer-city) Borrow = (Branch-name, loan-number, customer account-number) Deposit = (Branch-name, Account-number, Customer-name, Balance) Using relational Algebra, the query that finds customers who have balance more than 10,000 is ................. (A) πcustomer-name(σbalance> 10000(Deposit)) (B) σcustomer-name(σbalance> 10000(Deposit)) (C) πcustomer-name(σbalance> 10000(Borrow)) (D) σcustomer-name(σbalance> 10000(Borrow))

Description : Consider the following schemas: Branch = (Branch-name, Assets, Branch-city) Customer = (Customer-name, Bank-name, Customer-city) Borrow = (Branch-name, loan-number, customer account-number) Deposit = ... )) (C) πcustomer-name(σbalance> 10000(Borrow)) (D) σcustomer-name(σbalance> 10000(Borrow))

Last Answer : (A) πcustomer-name(σbalance> 10000(Deposit)) 

A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : A. Mortgage Explanation: A loan that is secured by property or real estate is called a mortgage. In exchange for funds received by the homebuyer to buy property or a home, a lender gets the promise of that buyer to pay back the funds within a certain time frame for a certain cost.

____is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency A. BSBDA B. CA C. LORO Account D. Mirror Account E. None of the Above

Description : ____is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency A. BSBDA B. CA C. LORO Account D. Mirror Account E. None of the Above

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Description : Sukanya Samriddhi Account can be opened up to age of ________ years only from the date of birth A. Five years B. Four years C. Six years D. Eight years E. Ten years

Last Answer : E. Ten years Explanation: Sukanya Samriddhi Account can be opened up to age of 10 years only from the date of birth.

________ have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS) recently. A. Common Service Centres (CSC) B. Financial Institutions C. Only (A) D. Both (A) and (B) E. None of the Above

Description : ________ have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS) recently. A. Common Service Centres (CSC) B. Financial Institutions C. Only (A) D. Both (A) and (B) E. None of the Above

Last Answer : A. Common Service Centres (CSC) Explanation: over 1.5 Lakh common service centres (CSC) or Digital Seva Kendres have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS).

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Description : Which of the following is known as Demat account? A. Account in which shares are held in electronic form B. other than those given as options C. Account allowed to be operated by ... minor D. Account operated by business correspondents in rural centres. E. Account opened with zero balance

Last Answer : A. Account in which shares are held in electronic form Explanation: A Dematerialized account is opened by the investor while registering with an investment broker (or sub-broker).

Do you prefer savings or current account?

Description : Do you prefer savings or current account?

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Distinguish between the following: Current Account and Savings Account.

Description : Distinguish between the following: Current Account and Savings Account.

Last Answer : Distinguish between the following: Current Account and Savings Account.

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Description : Which of the following has approved $500 million loan for bridge over Ganga River in Bihar? A) World Bank B) Asian Development Bank C) International Monetary Fund D) European Development Bank E) None of these

Last Answer : B) Asian Development Bank Explanation: Asian Development Bank accorded $500 million to build bridge over India‘s longest river bridge which is in Bihar having distance of 9.8 km road.

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Description : Which of the following has approved $500 million loan for bridge over Ganga River in Bihar? A) World Bank B) Asian Development Bank C) International Monetary Fund D) European Development Bank E) None of these

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Which of the following is/are the loan product(s) of Bandhan Bank? A. Agri loan B. MSME loan C. Retail loan D. Both (A) and (C) E. All of the Above

Description : Which of the following is/are the loan product(s) of Bandhan Bank? A. Agri loan B. MSME loan C. Retail loan D. Both (A) and (C) E. All of the Above

Last Answer : E. All of the Above Explanation: Products of Bandhan Bank includes Agri loan, MSME loan, Retail loan and Micro loan.

Loan and Advances of a bank come under which of the following category? A. Assets B. Liabilities C. Deposits D. All of the Above E. None of the Above

Description : Loan and Advances of a bank come under which of the following category? A. Assets B. Liabilities C. Deposits D. All of the Above E. None of the Above

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Consumer expenditures are affected by ________. A. Savings B. Debt C. Credit availability D. All of the above E. None of the above

Description : Consumer expenditures are affected by ________. A. Savings B. Debt C. Credit availability D. All of the above E. None of the above

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i. A company usually opens ________ account in a bank.  (a) Current  (b) Saving  (c) Recurring

Description : i. A company usually opens ________ account in a bank.  (a) Current  (b) Saving  (c) Recurring

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Description : When a Bank provides a loan for purchase of white goods, it is categorised as _____________ A. Consumption loan B. White Goods loan C. Consumer Durable loan D. Working Capital

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Are mutual funds able to be held in a registered retirement savings plan?

Description : Are mutual funds able to be held in a registered retirement savings plan?

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