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प्रश्न
The current account holders are not given interest on their deposits. The reason being:
विकल्प
Current account holders maintain their account only for a very short period.
They belong to the high-income group and do not need interest from the bank.
The businessmen who opened these accounts eam huge profit from their businesses.
There is no limitation on the number of withdrawals by the current account holders.
उत्तर
There is no limitation on the number of withdrawals by the current account holders.
Explanation:
Current accounts are usually used by businesses and individuals who need quick and easy access to their funds. Banks do not pay interest on these deposits because there is no limit to the amount of withdrawals and transactions that can be done without restriction.
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संबंधित प्रश्न
State two advantages of a bank account.
______ deposits earn very low rate of interest on it.
A depositor is allowed to withdraw more money than what is there in his account:
- What is the facility called?
- In which type of account is it permitted?
Match the following:
| 1 | Savings account | P | For a fixed time period |
| 2 | Current account | Q | Deposited at an equal time period |
| 3 | Recurring account | R | No interest is paid |
| 4 | Fixed deposit | S | Nominal restriction in no. of withdrawals |
Commercial Banks are the lender of the last resort.
Demand deposits include ______ and _______.
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.
What is meant by demand deposits?
What are time (or fixed) deposits?
