Find the incorrect option from the following:
(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 businesses.
(D) It is easy for individuals to get credit who have savings and current account in the banks.
Answer:
So the correct answer is (C) - Banks provide loans only to profit-making businesses.
Explanation
Let’s check all the options:
- Option (A) - Banks accept deposits and also pay an amount as interest - This is a correct statement
- Option (B) - People’s money is safe with banks - This is a correct statement.
- Option (C) - Banks provide loans only to profit-making businesses - This is an incorrect statement because banks provide loans to small-scale businesses and farmers too.
- Option (D) - It is easy for individuals to get credit who have savings and current accounts in the banks - This is a correct statement.
