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Question
Current Account is opened by salaried persons.
Options
True
False
MCQ
True or False
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Solution
This statement is false.
Explanation:
Current accounts are operated by business firms and other commercial organizations, such as hospitals, educational institutions, etc., who have regular banking transactions. In this account there is no restriction on deposits and withdrawals of amounts. The bank does not pay any interest on this account.
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Chapter 4: Business Services - EXERCISE [Page 90]
