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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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. 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. 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.a)Only iib)Only ii, and iiic)Only iiid)All of the AboveCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Banking Exams tests.