Multiple choice

Credit card business, insurance business and underwriting carried on by a bank are known as para-banking services.

  1. True

  2. False

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Para-banking services are supplementary services provided by banks beyond traditional deposit and lending activities. Credit cards, insurance distribution, and underwriting activities are classic examples of para-banking. The statement correctly defines the scope of para-banking services.