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.
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.