Advertisements
Advertisements
Question
Explain the following term/concept.
Deposit Insurance
Advertisements
Solution
(1) The company enters into an agreement with the Insurance Company for taking Deposit Insurance. A company needs to take Deposit Insurance at least 30 days before the date of the circular/advertisement or its renewal.
(2) Insurance is to be taken if the amount of deposit plus interest is up to 20,000.
Insurance above 20,000 per depositor Rs 20,000 insurance.
APPEARS IN
RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
Write a word or a term or a phrase which can substitute the following statement.
Document issued by a company to invite its members to subscribe for its Deposits.
Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.
Write a word or a term or a phrase which can substitute the following statement.
Time within which company has to issue deposit Receipt
State whether the following statement is true or false.
Eligible public company can collect deposits from its members.
Find the odd one
Complete the sentence:
Account which is used only for repaying deposits is called ______.
Correct the underlined word and rewrite the following sentence.
Company appoints Credit Rating Agency to protect the interest of Depositors.
Arrange in proper order.
a. Appoint Deposit Trustee.
b. Hold General Meeting.
c. Create charge on assets.
Arrange in proper order.
a. Obtain Credit Rating.
b. Entries in Register of Deposits.
c. Issue Deposit Receipt.
Explain the following term/concept.
Tenure of Deposit
Explain the following term/concept.
Secured Deposit
Explain the following term/concept.
Credit Rating
Answer in brief.
State the provisions regarding appointment of Deposit Trustee.
State any four terms and conditions regarding acceptance of deposit.
Find the odd one.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ | ||
| a) | Retained earnings | 1 | ______ |
| b) | ______ | 2 | Written communication |
| c) | 36 months | 3 | ______ |
| d) | ______ | 4 | Charge on assets |
| e) | Cash sales | 5 | ______ |
(Less working capital, Correspondence, Secured debentures, Internal source of finance, Maximum tenure of deposits.)
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
