Banking operations

Which bank enjoys monopoly power of Note issue?

• NABARD

• Commercial Bank

• Central Bank

Taking more money out of your account than is available​ is called?

• Overdraw
• Deposit
• Withdraw
• Balance

What is the amount of money required to be stay in an account?

• Maximum Balance
• Minimum Balance
• Minimum Deposit
• Maximum Deposit

You should keep your pin number in your wallet.

• True
• False

What is the name of a legal document that functions like cash?

• Check
• ATM
• Deposit slip
• PIN

How do financial institutions make most of their money?

• Fees
• Interest
• Mutual Funds
• Loan Payments

Banks create money by taking in deposits, making _______, and charging _______.

• interest, payments
• loans, interest
• payments, loans
• debt, loans

How do banks earn their money?

• high initial bank account opening fees

• allocating customers' money for daily expenses and company's money for quarterly bills

• lending money at higher interest rates than what they are paying out for savings accounts

• circulating printed money into the economy and keeping a percentage for daily operations

What is the name of Central Bank in India?

• SBI

• RBI

• PNB

Deposits which are payable after the expiry of a fixed period are called -

• time deposits.

• demand deposits.

• NONE