ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Share Market
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Insurance Company
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Banks
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All of these
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Detailed explanation-1: -A commercial bank is a financial institution which performs the functions of accepting deposits from the general public and giving loans for investment with the aim of earning profits.
Detailed explanation-2: -A credit union is a not-for-profit financial institution that accepts deposits, make loans, and provides a wide array of other financial services and products.
Detailed explanation-3: -Only certain licensed credit institutions (in short, banks, savings banks and credit unions) are authorised to receive funds from the public, i.e. receive money from customers with the commitment to repay it under the agreed conditions.
Detailed explanation-4: -Banks, including co-operative banks, can accept deposits.
Detailed explanation-5: -Consider the following statements: A bank which accepts deposits from the public but does not perform the function of lending is the. Q32) Consider the following statements about Payment Banks. More items