Banking Awareness

Under which method of note-issue the RBI issues notes—- Minimum Reserve System.

A rise in the reserve ratio of banks —- Will lead to a decrease in the money supply

FCNR accounts can be opened and maintained as—— Term Deposit Accounts

An instrument in the form of Depository Receipt created by an Indian Depository against underlying equity shares of the issuing company—– IDR

Interest on the savings bank accounts is compounded —— Daily

Current account becomes dormant when there are no withdrawals for the last— 2 years

A cheque becomes stale after —- 3 months

What is a temporary pass through account held by a third party during the process of a transaction between two parties— Escrow Account

CRAR—– Capital to Risk (Weighted) Assets Ratio

On a cheque instead of two parallel lines only bank’s name is written. It is a—— Special crossing

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