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    Question

    In the banking domain, DEAF stands for

    –
    A Depositor Education and Awareness Fund Correct Answer Incorrect Answer
    B Debenture, Equity, ASBA Fund Correct Answer Incorrect Answer
    C Direct Early Acquisition Fund Correct Answer Incorrect Answer
    D Detailed Early Application Function Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    DEAF stands for Depositor Education and Awareness Fund. It was created in 2014 in order to transfer the funds lying for more than 10 years in the inoperative accounts of the banks to the RBI. DEAF committee will have six members headed by a deputy governor of the central bank. The main objective of the fund is to undertake educational and awareness initiatives among the customers.

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