BANK SEBI Grade A Phase 1 & Phase 2 Mock Test 2024 Banking and Financial Awareness Financial Markets
Which among the following statements is incorrect about “Call Money”?
1
Call money is mainly used by the banks to meet their temporary requirement of cash.
2
Banks borrow and lend money from each other normally on a daily basis.
3
Loan is repayable on demand and its maturity period varies in between one day to a fortnight.
4
The rate of interest paid on call money loan is known as call rate.
5
None of the above is incorrect.