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Question
State with reasons whether the following statement is True or False.
It is compulsory for banks to perform non-banking functions.
State with reasons whether the following statement is True or False.
It is compulsory for banks to perform non-banking functions.Open in App
Solution
The correct option is B False
Major services offered by banks are accepting deposits and lending money. Banks do undertake allied services to win the competition. However, such non-banking functions are not compulsory to be performed.
Major services offered by banks are accepting deposits and lending money. Banks do undertake allied services to win the competition. However, such non-banking functions are not compulsory to be performed.
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