11th- BUSINESS SERVICES

"It is the type of deposit account in which the deposit in excess of a particular limit automatically gets converted into fixed deposit." This deposit is related to -

• Recurring deposit account

• Fixed Deposit account

• Saving Account

• Multi option deposit

The function of a commercial bank include:

• Acceptance of Deposits

• Granting of loans

• Locker facility

• All the above

Which bank is known as 'Apex Bank'?

• The State Bank of India

• The Reserve Bank of India

• The Central Bank

• The Bank of Inida

Overdraft facility is available on

• Fixed Deposit account

• Current account

• Savings

• Recurring account

Accepting deposits is which type of function of banks?

• Primary function

• Secondary function

• Social function

• None of the above

This category of cheque is to be deposited only in the payee's account.

• Bearer cheque

• Crossed cheque

• Both a & b

• None of the above

Sagar and Lakshay are friends. Sagar is a businessman who deals in buying and selling computer parts whereas Lakshay is working as a manager in ICICI Bank.

Sagar deals with a lot of customers daily and receives money from them as his transactions are mostly on cash basis. He also deals with different suppliers and has to make frequent payments to them. As it becomes difficult from him to manage cash daily, his friend Lakshay advised him to open a bank account in ICICI Bank.

NAME THE TYPE OF ACCOUNT WHICH WILL BE OPENED.

• Savings account

• Current account

• Fixed Deposit account

• Recurring deposit account

Ms. Payal has started a new readymade garment unit. She decided to open an account in a Nationalised Bank. But she has no clear idea about the type of account which is most suitable to business people like her. Which account is most suitable for her?

• Savings account

• Fixed Deposit account

• Current account

• Recurring account

Which type of deposit account offers maximum interest on the deposits?

• Savings axxount

• Fixed deposit account

• Current account

• Multi-option account

Under which service do we pay interest only on the amount withdrawn?

• Overdraft

• Bank draft

• Cash credit

• None of these