Banking · Retail Deposit Products
Consider the following statements regarding Demand Deposits in banks: 1. Cheques can only be drawn on commercial banks and are legally recognized financial instruments. 2. Demand deposits typically offer high-interest yields compared to term deposits to actively attract operational customers. 3. Savings Bank (SB) accounts and Current Accounts (CA) are the two primary types of demand deposit accounts. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, and 3
- 22 and 3 only
- 31 and 3 only✓
- 41 and 2 only
Correct answer
1 and 3 only
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