MCQ10

Bank is Financial Institition that undertakes the banking activity

• it accepts deposits
• Lends Money
• Charges Interest
• Pays Interest
• Facilitate Deposites

Functions of RBI

• Issuer of Currency
• Bankers to Government
• Locker Facility
• Regulator of Financial System
• Detection of Fake Currency

Features of Commercial Bank-

• financial institution that accepts deposits from the public
• give loans
• offers financial products and services
• required to be registered under Banking Regulation Act, 1949
• non-profit institution

Nationalized Bank

• HDFC Bank
• Bank of Baroda
• Andhra Bank
• Punjab National Bank
• ICICI Bank

NBFC

• registered under the Company Act, 2013
• regulated by RBI
• deals with infrastructure finance, leasing, housing finance, and venture capital finance
• It offers interest rates higher than the ceiling rate prescribed by RBI
• Provising loans without any security

current account

• Standard
• Premium
• Foreign
• Pension

To increase the saving habit in your friend who is starting is new job,what will you suggest

• Saving Account
• Credit Card
• Fixed Deposit
• Recurring Depsit
• BHIM

Income Tax Deduction provided for

• Home Loan
• Education Loan
• Agricultural Loan
• Gold Loan
• Business Loan

Overdraft is the facility Provided

• Based on Credibity of the Customer
• based on urgent need of the customer
• for working capital need

Online and Mobile Banking

• access account 24/7
• paperless statement
• Safest Mode of Banking
• Saves Time