Multiple choice

The rate of interest on Fixed and Investment Deposits is stipulated by

  1. The concerned bank;

  2. RBI;

  3. Indian Banks Association;

  4. Government of India
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Interest rates on fixed and investment deposits are determined by the individual banks based on their own asset-liability management and market conditions, rather than being fixed by the RBI.

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