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Which of the following statements is NOT correct? Select one: O a
Which of the following statements is NOT correct? Select one: O a. Agricultural banks give services to farmers. O b. Depositors are the people who need money and find this money from bank. O c. Saving banks help people to increase their savings by giving them interest. d. Banks get interest profit from the loans they provided.
Expert Solution
Option b is not correct.
b. Depositors are people who need money and find this money from bank.
This statement is not correct. Because depositors are the people who deposit their money with the bank in various forms of accounts. They give their money to bank for keeping them for a specific period. They get interest as income from the deposits they made.
People who approach bank for money is borrowers and they need money also.
All other statements are true.
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