I. Banks act as payment agents by operating current accounts, paying cheques and receiving payments for them. |
II. Maintaining account books for them for their day-to-day activities, so that they are not required to appoint account/finance personnel on a regular basis. |
III. Lending money by way of overdraft, instalment loan, credit or advance for business activities. |
A) Only I
B) Only II
C) Only III
D) I and III
E) All of these
Correct Answer: D
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