Multiple choice general knowledge

In banking jargon does CASA stand for Credit Account and Saving Account ?

  1. True

  2. False

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

CASA actually stands for Current Account Savings Account in banking terminology, not Credit Account and Saving Account. CASA deposits are low-cost deposits for banks because they pay minimal or no interest. The statement in the question is therefore false.