Consider the following statements about Current Accounts in India:
- Current Accounts are eligible to be opened by firms, companies, trusts, and associations of persons.
- Current Accounts typically do not carry interest on deposits but are meant for business operations.
- Both Savings and Current Accounts are demand deposits, allowing withdrawal at any time.
Which of the above statements is/are correct?
1
1 only
2
2 only
3
3 only
4
1 and 2 only
5
All are correct