Question : Which of the following is not a type of deposit account offered by banks?
Option 1: Savings account
Option 2: Current account
Option 3: Fixed deposit account
Option 4: Demat account
Answer (1)
11th Jan, 2024
Correct Answer: Demat account
Solution : The correct answer is (d) Demat account.
A demat account is not a type of deposit account offered by banks. It is a type of account provided by depository participants (DPs) to hold and trade securities in electronic form. Demat accounts are primarily used for holding shares, bonds, and other securities in a dematerialized or electronic format. They facilitate the buying, selling, and transferring of securities without the need for physical certificates.
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