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Question
State whether the following statement is true or false :
Banks grant long term loans only.
Options
True
False
Solution
False
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RELATED QUESTIONS
Write a word or a term or a phase which can substitute the following statement:
Separate loan account under which the short term loan facility given by bank to the business
Write a word or a term or a phase which can substitute the following statement:
The short term credit facility given by bank to current account holder.
Select the correct answer from the options given below and rewrite the statement.
Bank provides overdraft facility to ___________ account holder.
Select the correct answer from the options given below and rewrite the statement.
__________ is used for depositing cash into a bank account.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Lost cheque | 1) Board of Directors |
| b) Appointment of Banker | 2) Higher rate of interest |
| c) Cash credit | 3) Used for depositing cash and cheque |
| d) Fixed Deposit Account | 4) Stop Payment |
| e) Savings Account | 5) Restrictions on withdrawals |
| f) Pay-in-slip | 6) Separate Account |
| g) Overdraft facility | 7) Current Account |
| 8) Recurring Account | |
| 9) Shareholders | |
| 10) No interest is paid | |
| 11) Used for withdrawing amount from account | |
| 12) Long term credit facility | |
| 13) Certain restrictions on withdrawals | |
| 14) Dealing in foreign exchange |
State whether the following statement is true or false :
In cash credit, customers account is credited by bank with sanctioned amount
State whether the following statement is true or false :
Board resolution is not required to open the Current Account with the bank.
Find the odd one:
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Answer in one sentence:
Which facility is given to Current Account holder?
Attempt the following:
Write a letter to the bank to stop payment of cheque.
Attempt the following:
Write a letter to bank for opening a current account
Explain the following term/concept:
Current deposits
Explain the following term/concept:
Time Deposits.
Explain the following term/concept:
Fixed deposits
Explain the following term/concept:
Loans
