Question

The accepting for the purpose of leading or investment, of deposits from the public, repayable on demand or otherwise and withdrawal by cheque , draft, order or otherwise is known as---------
a)Transferring
b)Banking
c)Depositing
d)Betting​

Answer 1

Answer:

b) Banking

Explanation:

Banking is defined as the accepting purpose of lending or investment of deposits, money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise — this definition is given in Indian Banking Regulation Act (1949).