BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
creditcard services
|
|
|
Acceptdeposits
|
|
|
Accountservices
|
|
|
Provideloans & advances
|
Detailed explanation-1: -Although banks do many things, their primary role is to take in funds-called deposits-from those with money, pool them, and lend them to those who need funds. Banks are intermediaries between depositors (who lend money to the bank) and borrowers (to whom the bank lends money).
Detailed explanation-2: -Explanation: Accepting deposits, providing loans, mortgages, cash, borrowing, overdraft, and bill discounting are all primary responsibilities.
Detailed explanation-3: -The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce. Bank pays interest at lower rates to the depositors and receives interests on loans and advances from them at higher rates.
Detailed explanation-4: -Major Functions of Banks in India Accepting deposits. Lending loans and advances. Transfer of funds.