To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

Banking Exams Exam > Banking Exams Questions > To be successful, the banks understand their ...

Join the Discussion on the App

Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?

a)
There is no requirement for any minimum balance in BSBDA
b)
There is no limit on the number of deposits/withdrawals in this new product introduced by RBI
c)
The holders of BSBDA can open only one additional savings deposit account in the respective bank
d)
All of the above

Correct answer is option 'A'. Can you explain this answer?

FREE This question is part of

Test: Retail Banking & Wealth Management - 4

Attempt Test

Attempt this Test

Most Upvoted Answer

To be successful, the banks understand their different customers, diff...

BSBDA is considered a normal banking service in which there is no requirement for any minimum balance and doesn't have any limit on the maximum number of deposits but only four withdrawals are allowed in a month, including ATM withdrawals. Also, the holders of BSBDA cannot open any other savings deposit account in the same bank.

Answered by Notes Wala · View profile

Attention Banking Exams Students!

To make sure you are not studying endlessly, EduRev has designed Banking Exams study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Banking Exams.

Lucent for GK

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

General Awareness & Knowledge

Tips & Tricks for Government Exams

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for Banking Exams exam

Similar Banking Exams Doubts

To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. What is the purpose of the KYC Form?(i) To serve as a database for cross-selling other products to the customer.(ii) To obtain documents to verify the identity of the customer.(iii) To prevent money laundering activities.

View answer

To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which among the following is not a Combination deposit scheme of banks?

View answer

Directions : Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you to locate them while answering some of the questions.The structure and operations of banks have undergone a rapid transformation in recent years. Consequent upon the revolution in information technology and the associated increase in competition financial intermediaries have become increasingly global in geographical coverage and universal in the financial operations, encompassing a wide range of activities including banking, securities markets activities and insurance. In the face of widespread concerns about declining profitability of banks, the Basel capital adequacy norms were enacted.Although the Basel norms helped to arrest the erosion of banks, capital ratios, concerns were raised regarding the mere applicability of baseline capital ratios in the changed environment of operation. The blurring of both functional as well as national divisions among the financial intermediaries, and the speed and complexity of adjustment, made it difficult for regulators to keep up with the growing pace change. In particular, the rule of ‘one-size-fits-all’ aspect of the capital adequacy ratio was the subject of intense debate. Recent banking crisis only emphasized the point that baseline capital adequacy norms were not adequate to hedge against failures. In response to the same, the Basel Committee on Banks’ Supervision came out with the new Consultative Paper on Capital Adequacy. It invited suggestions from the policymakers, academia and other institutes all over the world. After taking into consideration manifold suggestions of the various organizations, the second Consultative Paper on Capital Adequacy was released.The Accord rests on three pillars; the first pillar of minimum capital requirement, the second pillar of supervisory review process and the third pillar of market discipline. The first pillar sets out the minimum capital requirements. The new framework maintains both the current definition of capital and the minimum requirement of 8% of capital to risk-weighted assets. The revised Accord will be extended on a consolidation basis to holding companies of banking groups. The Accord stresses upon the improvement in measurement of risks. The credit risk measurement methods have been made more elaborate than those in the existing Accord. The new framework also emphasizes the measurement of operational risk. For measuring credit risk, two options have been proposed. The first is the standardized approach and the second is the internal rating based approach. Under the standardized approach, the existing approach for credit risk remains conceptually the same, but the risk-weights have been enlarged to encompass exposures to a broad category of borrowers with reference to the rating provided by rating agencies.Directions : Choose the word which is most opposite in meaning to the word printed in bold as used in the passage.Accord

View answer

Which among the following characteristic is correctly matched with the given market structure?

View answer

Porter’s Framework identified five forces that make up the competitive environment. Which of the following correctly describes 'Threat of New Entrants?'

View answer

Top Courses for Banking ExamsView all

Lucent for GK

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

General Awareness & Knowledge

Tips & Tricks for Government Exams

Improve Your Calculations: Vedic Maths (English)

Top Courses for Banking Exams

View all

To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?.

Solutions for To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.

Here you can find the meaning of To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which of the following is/are the feature(s) of a Basic Savings Bank Deposit Account (BSBDA)?a)There is no requirement for any minimum balance in BSBDAb)There is no limit on the number of deposits/withdrawals in this new product introduced by RBIc)The holders of BSBDA can open only one additional savings deposit account in the respective bankd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Banking Exams tests.

Explore Courses for Banking Exams exam