Question

    What is the minimum denomination for issuing a

    Certificate of Deposit (CD)?
    A ₹1 lakh Correct Answer Incorrect Answer
    B ₹2 lakh Correct Answer Incorrect Answer
    C ₹5 lakh Correct Answer Incorrect Answer
    D ₹10 lakh Correct Answer Incorrect Answer

    Solution

    Certificates of Deposit (CDs) are issued in the minimum denomination of ₹5 lakh and in multiples thereof. They are financial instruments offered by banks with a fixed maturity and are used primarily for short-term investment purposes.

    Practice Next

    Relevant for Exams: