Which of the following is correct statement

A. Normally no interest is paid on current deposit accounts.

B. Interest is paid on current accounts at the same rate as term deposit accounts.

C. The rate of interest on current account and savings account are the same.

D. No interest is paid on any deposit by the bank.

Answer: Option A

It is desirable for consumers to be aware of their rights, and to exercise those rights responsibly and intelligently. In these days of audio-video publicity on the public and private media, it is indeed very difficult, if not impossible. to verify the exaggerated or false claims made by producers, manufacturers, distributors and dealers of various goods and services. The all-pervasive, exaggerated and often false claims, made for services and goods. emphasize the imperative need for Consumer Protection Legislation and creation of awareness about it among the general public. 

In this connection. there are a number of enactments. in India such as the prevention of Food Adulteration Act. 1954, the Essential Commodities Act, 1955, the Hire Purchases Act. 1972. the Standards Weight and Measure Act, 1976 etc. However, the remedies prescribed there under are time-consuming, inadequate and expensive. As in other areas of Judicial Processes. the offenders are hardly caught. proceeded against and rarely. if ever, got convicted. When violators go scot-free, the victims have no remedy and gets frustated.