What is the main purpose of a bank statement?

Correct option is A

The correct answer is (a) To track income and expenses.
· A bank statement provides a summary of all transactions within a given period, including deposits, withdrawals, and fees, helping account holders monitor their financial activity and manage their budget effectively.
· A bank statement summarizes all the account's monthly transactions and is typically sent by the bank to the account holder every month in paper or digital form.
· Bank statements contain checking and savings account information, such as account numbers and a detailed list of deposits and withdrawals.
Facts to remember:
· The RBI was established on April 1, 1935, under the Reserve Bank of India Act, 1934.
· The RBI was nationalized on January 1, 1949, after India's independence.
· The central office of the RBI is located in Mumbai, Maharashtra.
· The RBI is headed by the Governor. As of now, the current Governor is Shaktikanta Das (since December 2018).