Question
What should be the minimum duration for which a
certificate of deposit can be issued?Solution
Certificate of Deposit is a negotiable instrument issued in 1989 for the first time and it is issued against funds deposited with a bank or financial institution. The scheduled commercial banks (excluding the RRBs and the Local Area Banks) and All-India Financial Institutions can issue such CDs. The minimum amount should be Rs 1 lakh whereas the duration should not be less than 7 days and not more than a year.
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NABARD, which stands for National Bank for Agriculture and Rural Development, is an apex development bank in India. NABARD celebrates its foundation day...
According to RBI rules how much loan can be given to poor and small farmers?
