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 paymentsSolution
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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