GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which among the following accounts are allowed to be operated by cheques?
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Current Account and Loan Account
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Savings and Current Account
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Fixed Deposit Account and Loan Account
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Savings Account and Fixed Deposit Account
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Explanation:
Detailed explanation-1: -Both savings bank accounts and cash accounts only.
Detailed explanation-2: -No, cheque book facility is not available for a Standard savings account as it is not a transactional account.
Detailed explanation-3: -It tends to be more commonly used in the USA and other countries. However, they are essentially the same as a current account. Checking accounts may have country-specific features, but the principles are the same as a current account.
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