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प्रश्न
Differentiate between current deposit account and fixed deposit account.
उत्तर
| Basis of Comparison | Current deposit Account | Fixed deposit account | |
| 1. | Object | To carry on business dealings. | To earn interest. |
| 2. | Period of deposit | There is no fixed period. | Fixed period. |
| 3. | Frequency of deposits | Any number of times. | Only one at a time. |
| 4. | Number of withdrawals | There is no restriction on the number of withdrawals. | On maturity date. |
| 5. | Cheque book facility | Allowed. | Not allowed. |
| 6. | Interest | No interest, but a bank charge. | High rate. |
| 7. | Overdraft facility | Available. | Not available. |
संबंधित प्रश्न
Discuss any five advantages of having a bank account.
SLR stands for ______
Which of the following does not belong to the group?
State two advantages of a bank account.
Name one commercial bank in India.
______ is a revolving credit arrangement.
Commercial banks accept deposits, lend money and provide other services.
What are the two main functions of a commercial bank?
Distinguish between:
cash credit and loan.
Differentiate between Savings Deposit and Current Deposit.
Write short notes on the primary functions of commercial banks.
A ______ is meant for day to day transactions.
Which is the primary function of Commercial Banks?
Which of the following statements are true?
- A bank collects money from those who have surplus funds and lends this money to those who require it.
- Commercial banks do not transfer funds from one place to another.
- The principle objective of commercial banks is to earn profit.
The current account holders are not given interest on their deposits. The reason being:
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I.
| Column I | Column II | ||
| A. | Function of Commercial bank | (i) | Initial deposits × `1/"LRR"` |
| B. | Money multiplier | (ii) | The difference between market value of the security and the amount of loan. |
| C. | Total money creation | (iii) | Acceptance of deposits |
| D. | Margin requirement | (iv) | `1/"LRR"` |
Compare the rate of interest given to such an account to that of a Current Account and a Fixed Deposit.
Explain how banks can advance loans through cash credit.
What are current deposits?
Give two differences between recurring deposits and fixed deposits.
