Business Services (Prepared By Preksha Mehta)
6 Questions
| Attempts: 14
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The primary function of a bank is
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Accepting deposits
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Lending money
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Both of the above
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None of the above
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About This Quiz
Try this quiz to test your understanding on the chapter Business Services.
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- 2.
There is no minimum limit under Real Time Gross Settlement (RTGS) for transfer of funds.
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True
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False
Correct Answer
A. FalseExplanation
The minimum amount for RTGS transactions is Rs.2 lakh.Rate this question:
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- 3.
Banks are
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Borrowers
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Lenders
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Both of the above
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None of the above
Correct Answer
A. Both of the above -
- 4.
The principle of indemnity is not applicable to
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Life insurance contract
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Fire insurance contract
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Marine insurance contract
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None of the above
Correct Answer
A. Life insurance contract -
- 5.
The full form of NEFT is ________
Correct Answer
National Electronic Funds Transfer
Quiz Review Timeline (Updated): Mar 21, 2022 +
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Current Version
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Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Aug 06, 2020Quiz Created by
Prekshamehta89
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