Question

Q24. Dhanwan bank is a popular private sector bank offering various services to its customers.
It offers many types of bank account options to its customers. Ajay being a businessman has
chosen the type of account in which deposits are the most liquid and there are no limits to the
number of transaction or the amount of transactions in a day. On the other hand his mother has
opened a type of account where she can conveniently deposit the money she saves. This
account provides cheque facility and offers lot of flexibility for deposit and withdrawal of the
funds from the account. Ajay's younger brother Naresh has opened a special kind of account
wherein he will deposit Rs 1000 every month for the next two years. In context of above case
a ) By quoting lines from the paragraph identify the various types of bank accounts being used
by Ajay and his family members. (3)

Answer 1

Answer:

Ajay- Current account

Ajay's mother- Saving bank account

Ajay's younger brother Naresh- Recurring deposit account