i. Accepting deposits is the secondary function of Banks. ii. Businessman opens Fixed Deposit Account.

Question

Correct the underlined word and rewrite the following sentence:

i. Accepting deposits is the secondary function of Banks.

ii. Businessman opens Fixed Deposit Account.

iii. Under cash credit facility businessman/account holder can overdraw from his account.

Answer 1

i. Accepting deposits is the primary function of Banks.

ii. Businessman opens Current Account.

iii. Under an overdraft facility, a businessman/account holder can overdraw from his account.