Match the items of List I with List II in terms of functions of a bank: List I (Activities)List II…
Underwriting is classified as a utility function, while transfer of funds is an agency function. An overdraft is a form of advance, and accepting recurring deposits is a…
Choose your answer
Match the items of List I with List II in terms of functions of a bank:
| List I (Activities) | List II (Functions) |
|---|---|
| a) Underwriting | i) Primary Function |
| b) Transfer of funds | ii) Granting Advances |
| c) Overdraft | iii) Utility Functions |
| d) Recurring Deposits | iv) Agency Functions |
Answer and explanation
Correct answer C
Underwriting is classified as a utility function, while transfer of funds is an agency function. An overdraft is a form of advance, and accepting recurring deposits is a primary banking function. The matching is therefore a-iii, b-iv, c-ii, d-i.
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Tamil Nadu SET (TNSET)