BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a primary function of a Bank?
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Granting Loans
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Collecting Cheques/Drafts customers
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Facilitating import of goods
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Issuing Bank Drafts
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Explanation:
Detailed explanation-1: -Facilitating import of goods is not a primary function of a bank.
Detailed explanation-2: -Accepting deposits is the only primary function of commercial banks.
Detailed explanation-3: -So, The correct answer is option (b) Photosynthesis.
Detailed explanation-4: -Hence, Issuing of Notes is not the function of a Commercial Bank. NOTE-The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.
Detailed explanation-5: -Explanation: Accepting deposits, providing loans, mortgages, cash, borrowing, overdraft, and bill discounting are all primary responsibilities.
There is 1 question to complete.