Question

8.
Find the incorrect option:
(a) Banks accept deposit and also pay an amount as interest
(b) People's money is safe with banks
(c) Banks provide loans only to profit-making business
(d) It is easy for individuals to get credit who have savings and current account in the banks.​

Answer 1

Answer:

c is the incorrect I think

Answer 2

The incorrect option in context to banking is option c: Banks provide loans only to profit-making businesses.

• A bank is a financial institution that assists people with their financial needs. They receive deposits, provide loans to consumers, and pay interest on savings accounts.
• Option a is correct because people deposit their money in banks to keep it safe and receive interest on the money they have placed.
• Option b is true since money is maintained in banks safely.
• Option d is true since customers who have savings and current accounts in banks receive credits and interest.
• Option c is inaccurate because banks do not exclusively lend loans to profitable companies.
• Banks make loans to anyone in need of money on the condition that they supply the bank with legal documents.
• As a result, choice c is incorrect.