Advertisements
Advertisements
प्रश्न
Distinguish between the following:
Current account & Savings account
उत्तर
| Basis of Difference |
Current Account | Saving Account |
| Meaning | It is opened by businesspersons and others who do regular banking transactions. |
It is opened by individuals who wish to save some parts of their income |
| Restriction on number of withdrawals |
There are no restrictions on the number of withdrawals till the balance in the customer’s the account is more than that required. |
There are certain restrictions on the number of withdrawals. |
| Mode of withdrawing money |
It is done through cheques | It is done through cheques or withdrawal slips. |
| Preferred by | It is preferred by businesspersons, firms and different institutions |
It is preferred by salaried people. |
| Interest given | No interest is given | Interest is given, but the rate is very low. |
| Overdraft facility | Overdraft facility is available. |
The overdraft facility is not available. |
| Documents | The bank gives a passbook, checkbook, statement of account, and pay-in-slip book to the customers. | The bank gives a passbook, cheque book and pay-in-slip book to the customers. |
| Nature of account | It is of continuous Nature. | It is of continuous Nature. |
संबंधित प्रश्न
Find the odd one.
Select the correct option and complete the following table.
(RTGS, SIDBI, apex financial institution in banking industry of country, recurring deposit, long term loans)
| Group A | Group B |
| 1 _________ | fund transfer on real-time and gross basis |
| 2. loans to meet long term capital requirements | ________ |
| 3 ____________ | Account operated by salaried and businessmen both. |
| 4. Central bank | _____________ |
| 5 _____________ | Principal financial institution for MSMEs |
Correct the underlined word and rewrite the following sentence.
The foreign bank is the apex financial institution in the banking industry in the country.
Explain the following term/concept.
Banking
Distinguish between.
Central Bank and Commercial Bank
Distinguish between.
Savings Account and Current Account
State four types of deposits.
Explain the utility function of banks?
The word bank comes from French word _______.
Select the correct option.
(no need to carry cash, intangible, fund transfer system, accepting deposits, niche banks in India)
| Group A | Group B |
| A. _____________ | services |
| B. commercial bank | ______________ |
| C. _____________ | Small finance bank |
| D. credit cards | _______________ |
| E. _____________ | RTGS |
What is demand deposits?
What is exchange bank?
Correct the underlined word and rewrite the sentence.
The commercial bank is the apex financial institution in banking industry in the country.
Study the following case/situation and express your opinion
Shirish shifted some furniture to his office and issues a cheque of Rs. 20000/- to MV Movers Limited. Balance in his account is Rs. 15000 still bank clears the cheque. Shirish also wants to renovate his office so he applies for a loan of Rs. 25 lacs which bank sanctions and transfer the amount to loan account. But Shirish withdrew only Rs. 15 lacs. Shirish accepted a bills of exchange for Rs. 5 lacs drawn upon him by M/s. Creative Furnitures for supplying new furniture for his office it is due on 31st May, 2021 but M/s. Creative Furnitures needed money on 1st April, 2021. They got Rs. 4.75 lacs from the bank on the basis of the same bills of exchange.
- Name the type of account Shirish must be operating
- On which amount Shirish will have to pay interest on loan?
- Which service did the bank make available to easy M/s. Creative Furnitures while paying rupees 4.75 lacs?
Justify the following statement.
Business services are necessary.
Explain the following term/concept in detail.
Central Bank
