True or false about deposit insurance

Exercise and reference answers

Questions

1. Statement is true

   No

   Statement

   The depositor pays the insurance premium.

2. Statement is true

   Yes

   Statement

   All co-operative banks are covered today.

3. Statement is true

   No

   Statement

   A bank may withdraw from the scheme.

4. Statement is true

   Yes

   Statement

   Branches of one bank are counted together.

5. Statement is true

   Yes

   Statement

   Two different banks give two separate covers.

6. Statement is true

   No

   Statement

   A bank cannot set off its dues first.

Instructions

Decide whether each statement is true or false.

Explanation