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Question
Commercial banks cannot give interest on deposits.
Commercial banks cannot give interest on deposits.
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Solution
The correct option is B False
False. A commercial bank is a financial institution which performs two main functions that includes accepting deposits from people by providing them a nominal rate of interest on it and offering secured loan for the purpose of consumption and investment by charging high rate of interest on it. Therefore, commercial banks can give interest on the deposits with them.
False.
A commercial bank is a financial institution which performs two main functions that includes accepting deposits from people by providing them a nominal rate of interest on it and offering secured loan for the purpose of consumption and investment by charging high rate of interest on it. Therefore, commercial banks can give interest on the deposits with them.
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