Question

In addition to deposits and loans banks also offer many other services. Which of the following is NOT offered by a bank?

i. Authorised dealership for foreign exchange

ii. Financial counselling

iii. Depository participants

iv. Financial intermediary for payments

A Only i Correct Answer Incorrect Answer
B Only i & ii Correct Answer Incorrect Answer
C Only i & iii Correct Answer Incorrect Answer
D Only ii & iii Correct Answer Incorrect Answer
E All of the above services are offered by banks Correct Answer Incorrect Answer

Solution

An Authorised Dealer is a bank which has been authorised by the Central Bank to deal in gold and all foreign currencies. A Depository Participant (DP) is described as an Agent (law) of the depository. They are the intermediaries between the depository and the investors.

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