Question

What are Banks?

• A. Banks are government organization that takes care of law and order in the society.
• B. Banks are government recognized institution that carries out transactions of money.
• C. Banks are fully private organization that deals only in education sector.
• D. Banks are fully private organization that deals with immigration and external affair of country.

Answer 1

The correct option is B Banks are government recognized institution that carries out transactions of money.

A bank is a government recognized organisation that facilitates the transaction of money.