Question : The process of insuring bank deposits in case the bank fails is called:
Option 1: Credit rating
Option 2: Credit guarantee
Option 3: Deposit insurance
Option 4: Credit insurance
Correct Answer: Deposit insurance
Solution : The correct answer is (c) Deposit insurance.
The process of insuring bank deposits in case the bank fails is called deposit insurance. Deposit insurance is a financial protection mechanism provided by a government or a designated agency to protect depositors' funds in case a bank or financial institution fails or becomes insolvent. It ensures that depositors can recover a certain amount of their deposits in such situations.
Question : The process of converting cash into bank deposits is called:
Question : In 2019, the Export Credit Guarantee Corporation of India (ECGC) introduced the Export Credit Insurance Scheme(ECIS) called ______.
Question : The process of verification of the documents and collateral by the bank is called ___________.
Question : What is the full form of 'CARE' the third credit rating agency in India?
Question : A ___________ is a financial institution that accepts deposits from the public and provides credit facilities.
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