Economics · Banking System
Which of the following statements about commercial banks and their operations is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Banks operate without any regulatory oversight in India
- 2Banks accept deposits from the public and use them for lending activities✓
- 3The RBI regulates only non-banking financial companies (NBFCs) in India
- 4Banks only provide loans and do not accept deposits
Correct answer
Banks accept deposits from the public and use them for lending activities
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