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Question

Which of the following is true about role of Banks?

I. It facilitates import export transactions.

II. It helps in national development by providing credit to farmers, small-scale industries and self-employed people as well as to large business houses which lead to balanced economic development in the country.

III. It helps in raising the standard of living of people in general by providing loans for purchase of consumer durable goods, houses, automobiles, etc.

A Only I is true. Correct Answer Incorrect Answer
B Only II is true Correct Answer Incorrect Answer
C Only III is true Correct Answer Incorrect Answer
D All I II & III are true Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The correct answer is D

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