Question

What does the institution, called as bank, do?

• A. Receive money from depositors
• B. Lend money on demand
• C. Provide other useful services, like providing lockers, etc
• D. All the above

Answer 1

The correct option is D All the above

A bank is an institution which carries on the business of taking deposits and lending money and in addition to it, banks also perform various other functions like providing lockers, debit cards, credit cards, traveller's cheques, foreign currency, etc. and almost every individual and every section of the society deals with banks in one way or the other way.