Advertisements
Advertisements
प्रश्न
Distinguish between the following:
Current account & Recurring deposit account
उत्तर
| Basis of Difference |
Current Account | Recurring Account |
| Meaning | It is opened by business persons and others who do regular banking transactions. |
In this type of account, people save a fixed amount regularly for a specific period. |
| Mode of withdrawing money |
Withdrawal is made through cheques. |
The customer cannot withdraw the money before the expiry of the fixed period. |
| Preferred by | It is preferred by businesspersons, firms and institutions. |
It is preferred by fixed income group class. |
| Restriction on number of withdrawals |
There are no restrictions on the number of withdrawals till the balance in the customer’s account is more than that required. |
The customer can receive the amount only after the expiry of the specified period. |
| Interest rate | No interest is given. | Interest rate is comparatively higher than that given in the savings account but less than that given in the fixed deposit account. |
| Overdraft facility | Overdraft facility is given. | Overdraft facility is not given. |
APPEARS IN
संबंधित प्रश्न
Reserve Bank of India cannot accept deposits from public.
State with Reasons whether the following statement TRUE or FALSE.
Current account is suitable for salaried people.
Explain the types of banks?
Mention two differences between the Central Bank and a Commercial Bank.
Give the meaning of Commercial Banks?
What do you mean by Industrial Banks?
Explain the various types of banks based on organization with examples.
What is a Central Bank?
Public Banks are the banks which are ______.
Which of the following is a Commercial Bank?
Name the largest commercial bank of India.
"The central bank is the lender of the last resort." Explain.
What are the important functions of Central bank? Which of these functions are more important in a country like India?
______ are of several types, e.g., commercial, central, industrial, merchant, exchange, agricultural, cooperative, postal and indigenous.
Explain the four functions of the Reserve Bank of India.
