FINANCIAL EDUCATION

LEARNING VAULT

Know Your Banking - General Banking
General

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1. Banks only look after rich people's money?

True
False

2. Deposit is the major source of commercial bank funds?

True
False

3. Banks may come in all shapes and sizes, but the services that each bank offers - loans, accounts, and credit - are generally the same.

True
False

4. Whenever Reserve Bank of India changes its interest rates; all banks must change their interest rates on deposits and loans.

True
False

5. Deposits of customers in a bank are not safe as they carry a risk of non-payment in the event of failure of a bank.

True
False

6. Mutual fund is the fund in which the provident fund contribution of employees is pooled and invested.

True
False

7. Deposit Insurance and Credit Guarantee Corporation of India protects the banks against frauds.

True
False

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