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    Question

    Certificate of Deposit (CD) can be issued for a maximum

    period of?
    A 14 days Correct Answer Incorrect Answer
    B 1 months Correct Answer Incorrect Answer
    C One quarter (1/4 year) Correct Answer Incorrect Answer
    D 6 months Correct Answer Incorrect Answer
    E 1 Year Correct Answer Incorrect Answer

    Solution

    CDs are short-term borrowings in the form of Usance Promissory Notes having a maturity of not less than 15 days up to a maximum of one year.

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