What is Recurring Deposit Account? Recurring deposit is a
A global fraud report (conducted in 2014, by ACI) of around 6100 consumer in 20 countries reveals that one in four consumers is a victim of card fraud and India stands in the second position in terms of debit card fraud rate with 32% as compared to 21% in 2012.
The interest on savings bank account is calculated on half yearly basis. The amount may vary depending on the type of account and also from bank to bank.
As cited in a circular by RBI, “Current Account”
The guidelines for KYC was issued in 2002 under Section 35A of the Banking Regulation Act, 1949.
When you own a bank account, whether savings or