(1) Banks act as payment agents by operating current accounts, paying cheques and receiving payments for them. |
(2) 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. |
(3) Lending money by way of overdraft, instalment loan, credit or advance for business activities |
A) Only (1)
B) Only (2)
C) Only (3)
D) Only (1) & (3)
E) All of these
Correct Answer: D
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