Functions of Commercial Banks

Which of these are the functions of commercial banks?

• Acceptance of deposits

• Lending of funds

• Cheque facility

• All of these

Multiple option deposit accounts come under which of the following functions of commercial banks?

• Cheque facility

• Lending of funds

• Acceptance of deposits

• None of theses

Money is deposited in the account for a fixed period is called as ______

• Current account

• Deposit account

• Savings account

• Fixed account

Current deposit Accounts are opened by businessmen. The account holder can deposit and Withdraw money. Whenever desired.

• True

• False

A person can open this account by depositing a small sum of money. He can withdraw money from his account and make additional deposits at will. Account holder also gets interest on his deposit. What account is been discussed hear?

• Savings account

• Deposit account

• Current account

• None of theses