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Business Studies

Loans from Commercial Banks

If one borrow...

Question

If one borrows from a commercial bank, secrecy of business can be maintained as the information supplied to the bank by the bank is not kept confidential.

A

True

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B

False

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Solution

The correct option is B
False

Secrecy of business can be maintained as the information supplied to the bank is kept confidential. The bank doesn’t disclose any information to anyone in matter pertaining to a company.

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