Which of the following statements are correct?I. Bank deposits share t

1.	Which of the following statements are correct?I. Bank deposits share the essential features of money.II. Any depositor may demand his deposit at any point of time from a bank.III. Bank must retain all deposits by itself.1. I and II are true, but III is false. 2. I is true, but II and III are false.3. I and II are false, but III is true. 4. All statements I, II and II are true
Answer» Correct option: 1. I and II are true, but III is false. Explanation: Banks has to retain only 15% of all deposits by itself.

Which of the following statements are correct?I. Bank deposits share the essential features of money.II. Any depositor may demand his deposit at any point of time from a bank.III. Bank must retain all deposits by itself.1. I and II are true, but III is false. 2. I is true, but II and III are false.3. I and II are false, but III is true. 4. All statements I, II and II are true

Answer»

Correct option: 1. I and II are true, but III is false.

Explanation:

Banks has to retain only 15% of all deposits by itself.

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