Economics · Banking System
A financial institution can be classified specifically as a banking institution only when it _________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1performs both the functions of 'accepting deposits' and 'advancing loans'✓
- 2performs the function of 'accepting deposits' and not 'advancing loans'
- 3neither performs the function of 'accepting deposits' nor of 'advancing loans'
- 4performs the function of 'advancing loans' and not 'accepting deposits'
Correct answer
performs both the functions of 'accepting deposits' and 'advancing loans'
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