Which among the following statements is not true about Savings bank deposits? O I t is meant for small income groups OInterest is allowed on the credit balance of this account. O It promotes the habit of thrift among depositors There is no restriction on the amount that can be withdrawn at a particular time

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section: Chapter Questions
Problem 23AA
Question
Which among the following statements is not
true about Savings bank deposits?
It is meant for small income groups
O Interest is allowed on the credit balance
of this account.
O It promotes the habit of thrift among
depositors
O There is no restriction on the amount
that can be withdrawn at a particular
time
Transcribed Image Text:Which among the following statements is not true about Savings bank deposits? It is meant for small income groups O Interest is allowed on the credit balance of this account. O It promotes the habit of thrift among depositors O There is no restriction on the amount that can be withdrawn at a particular time
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cash Flow
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning