Answered

IDNLearn.com provides a comprehensive solution for all your question and answer needs. Find in-depth and accurate answers to all your questions from our knowledgeable and dedicated community members.

1. Which of the following statements are correct with regard to banks?

(i) Banking has been defined under the Banking Regulation Act.
(ii) Scheduled Banks are those banks which have been listed in the 2nd schedule of the RBI Act 1934.
(iii) The banks where Government shareholding is 50% or more are called Public Sector Banks.
(iv) Banks which are incorporated in India and have opened branches with the permission of RBI are known as Foreign Banks.

(a) (i), (ii), and (iv)
(b) (i), (ii), and (iii)
(c) (ii), (iii), and (iv)
(d) (i) and (iii)

Sagot :

GinnyAnsweridn

Final answer:

Banks are essential for storing money and providing loans, using a fractional reserve banking system.


Explanation:

Banks play a vital role in the financial system by offering services such as storing depositors' money and lending. Their balance sheets include assets like loans and investments along with liabilities such as deposits and debt. Fractional reserve banking system allows banks to lend out a portion of the deposits they hold, creating more money in circulation.


Learn more about Understanding banks and fractional reserve banking system here:

https://brainly.com/question/37925848


Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. Your questions deserve accurate answers. Thank you for visiting IDNLearn.com, and see you again for more solutions.