2 Views

Question : Which of the following is a feature of a current account?

Option 1: High interest rate

Option 2: No limit on the number of transactions allowed per month

Option 3: Fixed maturity period

 

Option 4: Low minimum balance requirement


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: No limit on the number of transactions allowed per month


Solution : The correct answer is (b). No limit on the number of transactions allowed per month

A current account is a type of bank account that is primarily used for business transactions. It is designed to facilitate frequent and regular transactions, both deposits and withdrawals. One of the key features of a current account is that there is typically no limit on the number of transactions that can be conducted within a month. This allows businesses to make multiple transactions, including payments to suppliers, salary disbursements, and other business-related expenses, without any restrictions.

Related Questions

CLAT Current Affairs with GK ...
Apply
Stay updated with current affairs & check your preparation with the CLAT General Knowledge Mock Tests Ebook
CLAT English Language Mock Tests
Apply
Free Ebook - CLAT 2025 English Language questions with detailed solutions
ICFAI Business School-IBSAT 2024
Apply
9 IBS Campuses | Scholarships Worth Rs 10 CR
CLAT Legal Reasoning Mock Tests
Apply
Free Ebook - CLAT 2025 legal reasoning questions with detailed solutions
GIBS Business School Bangalor...
Apply
100% Placements with 220+ Companies
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books