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Opening a Bank Account

One can avail...

Question

One can avail loan facilities from a bank without opening an account with it.

A

False

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B

True

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Solution

The correct option is A False

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Q. We, every now and then, read in the newspapers that some banks are earning good profits while some are not doing so well. The major part of a bank's profit generally comes from which of the following activities?
(A) Providing banking services like opening accounts, providing safe deposit vaults, etc
(B) Remittance facilities. collecting cheques, etc

(C) Interest on loans, the investment which banks make, by using money of the depositors.

Q. Fill in the blanks with appropriate alternatives given in the brackets.

1. Deposits from __________ account can be withdrawn without any notice. (saving/current/fixed/recurring)
2. __________ is a primary function of commercial banks. (Purchasing and selling securities/ Accepting deposits/ Safe deposit vault / Letter of credit)
3. Every loan creates a __________. (credit/ deposit/ profit/ loss)
4. Facility of E-banking is provided through __________ (telephone/ debit cards/ internet/ credit cards)

Q. On opening an account, bank gives us

Q. To which category of customers do the banks in India offer a ‘Basic Savings Bank Deposit Account’ with minimum common facilities?

Q. When a self-help group avails a loan from a bank, in whose name is the loan given?

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