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With effect from 1st April 2010, banks have been allowing interest on saving account balance on A. Annual basis B. Half yearly basis C. Quarterly basis D. Daily basis

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With effect from 1st April 2010, banks have been allowing interest on saving account balance on

A. Annual basis

B. Half yearly basis

C. Quarterly basis

D. Daily basis
1). A
2). C
3). D
4). B


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1 answers

1 vote
Answered by on | Votes 1 |
  • With effect from 1st April 2010, the interest in the saving account of scheduled commercial banks is calculated on daily basis and is credited to the account on quarterly basis. The banks are allowed to credit interest at shorter interval too.

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