Which of the following is not a characteristic of a commercial bank?
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Correct Answer: Option C
Explanation:
The characteristics of commercial banks are:
- it is a limited liability company
- the motive for its establishment is profit making
- they are members of the money market
- commercial banks are incorporated
- they accept deposits and other valuables.
- they are owned by private individuals, institutions or governments.
The characteristics of commercial banks are:
- it is a limited liability company
- the motive for its establishment is profit making
- they are members of the money market
- commercial banks are incorporated
- they accept deposits and other valuables.
- they are owned by private individuals, institutions or governments.