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प्रश्न
Explain the following term/concept:
Recurring deposits
उत्तर
Under Recurring deposit account, depositor is required to deposit with the bank a fixed sum of money every month for 12, 24, or 60 months. To encourage saving habit among the people bank allows depositors to open this account. 0n maturity, depositor gets the total amount deposited plus interest accrued on it. Pass book is issued to the depositor. E-statement is issued to the depositor only on demand.
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
The short term credit facility given by bank to current account holder.
Select the correct answer from the options given below and rewrite the statement.
Bank is a _______ institution
Select the correct answer from the options given below and rewrite the statement.
The appointment of banker is usually made by the _______.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Lost cheque | 1) Board of Directors |
| b) Appointment of Banker | 2) Higher rate of interest |
| c) Cash credit | 3) Used for depositing cash and cheque |
| d) Fixed Deposit Account | 4) Stop Payment |
| e) Savings Account | 5) Restrictions on withdrawals |
| f) Pay-in-slip | 6) Separate Account |
| g) Overdraft facility | 7) Current Account |
| 8) Recurring Account | |
| 9) Shareholders | |
| 10) No interest is paid | |
| 11) Used for withdrawing amount from account | |
| 12) Long term credit facility | |
| 13) Certain restrictions on withdrawals | |
| 14) Dealing in foreign exchange |
State whether the following statement is true or false :
Bank account of company is operated by shareholder.
State whether the following statement is true or false :
Bank overdraft facility is a long term facility.
Complete the sentence:
A financial institution which receives deposits and lends money is called as __________
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Answer in one sentence:
Which facility is given to Current Account holder?
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Attempt the following:
Write a letter to bank for opening a current account
Distinguish between the following:
Fixed deposit account and recurring deposit account
Explain the following term/concept:
Letter of Credit
Explain the following term/concept:
Discounting of Bills
Explain the following term/concept:
Bank
Correct the underlined word and rewrite the following sentence:
Accepting deposits is the secondary function of Banks.
