Current Affairs · Banking and Finance
In August 2025, Axis Bank introduced a new feature for term deposits. Consider the following statements regarding this innovation: 1. Axis Bank launched the 'Lock FD' feature aimed at protecting fixed deposits (FDs) against fraud and unauthorised digital access. 2. This is an industry-first initiative, setting a precedent for safer digital banking services in India. 3. The feature allows customers to close or pause their FD prematurely without any penalty charges through online banking. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only 1
- 2Only 2
- 3Both 1 and 2✓
- 4Both 2 and 3
Correct answer
Both 1 and 2
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