Question:
Assertion (A): Commercial banks accept various types of deposits to meet the needs of different customers.
Reason (R): Fixed deposits allow consumers to deposit money for a specific period and earn high interest, while current deposits do not help in earning interest but help in frequent transactions for businesses.
Assertion (A): Commercial banks accept various types of deposits to meet the needs of different customers.
Reason (R): Fixed deposits allow consumers to deposit money for a specific period and earn high interest, while current deposits do not help in earning interest but help in frequent transactions for businesses.
Reason (R): Fixed deposits allow consumers to deposit money for a specific period and earn high interest, while current deposits do not help in earning interest but help in frequent transactions for businesses.
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Commercial banks offer a variety of deposit options to cater to different financial needs: fixed deposits for higher interest, savings accounts for short-term savings, and current accounts for frequent transactions.
Updated On: Mar 31, 2026
- Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of the Assertion (A).
- Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
- Assertion (A) is true, but Reason (R) is false.
- Assertion (A) is false, but Reason (R) is true.
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The Correct Option is A
Solution and Explanation
Commercial banks provide different types of deposits to cater to the varied needs of customers. Fixed deposits offer high interest for a specific period, while current deposits are meant for daily transactions and do not earn interest. Both statements are true and the reason correctly explains the assertion.
Final Answer: (A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of the Assertion (A).
Final Answer: (A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of the Assertion (A).
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