16. Local Area Banks primarily focus on providing banking services in:
a) Metropolitan cities.
b) Tier-1 cities.
c) Rural and semi-urban areas.
d) Coastal regions.
17. What is the maximum tenure for fixed deposits offered by Local Area Banks?
a) 1 year.
b) 3 years.
c) 5 years.
d) 10 years.
18. Local Area Banks are allowed to issue credit cards to their customers.
a) True.
b) False.
19. Which of the following is NOT a function of Local Area Banks?
a) Issuing currency notes.
b) Providing remittance services.
c) Offering investment advisory services.
d) Facilitating foreign exchange transactions.
20. Local Area Banks are required to maintain a certain percentage of their net demand and time liabilities (NDTL) as Cash Reserve Ratio (CRR) with the RBI.
a) True.
b) False.
