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प्रश्न
Distinguish between:
Recurring deposits and Fixed deposits
उत्तर १
| Recurring deposits | Fixed deposits |
| Recurring deposits are deposits made in recurrent accounts at regular times by small savers. | Fixed deposits refer to a lumpsum amount deposited by a customer for a specified period of time. |
| Recurring deposits are term (time) deposits. | Compared to all other deposits, fixed deposits carry a high rate of interest. |
उत्तर २
| Point | Recurring deposits | Fixed deposits | |
| (i) | Meaning | It is a type of deposit account in which a depositor is required to deposit certain fixed amounts at regular intervals, say monthly, for a specific period of time, say 1 year, 3 years, 5 years, etc. | It is a type of deposit account in which a certain fixed amount is deposited and kept in the bank for a certain fixed period of time, bearing a fixed rate of interest. |
| (ii) | Documents | In this type of account, the depositor is given a passbook to record the entries of deposits and a pay-in-slip book to deposit the fixed amount. | In this type of account, the depositor is given only Fixed Deposit Receipt. (FDR) by the bank evidencing the amount kept with the bank. |
| (iii) | Frequency of deposit | The deposit holder is required to deposit a fixed amount at regular intervals, say monthly or fortnightly. | The deposit holder is required to deposit a fixed amount only once at the beginning of the period of time. |
| (iv) | Suitability | This deposit account is suitable for salaried people and businessmen who have regular income. | This account is suitable for rich people and retired people who have surplus idle funds. |
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संबंधित प्रश्न
Distinguish between:
Demand deposit and Time deposit
Identify and explain the concept from the given illustration:
Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.
Identify and explain the concept from the given illustration:
ABC bank provides a Demat facility, safe deposit lockers, and internet banking facilities to its customers.
Identify and explain the following concept.
Lucy deposited a Lump sum amount of ₹1,00,000/- in the Bonk of India for the period of one year.
Study the following table, figure, and passage, and answer the questions given below it.
| Commercial banks act as intermediaries in the country's financial system to bring savers and investors together. They are profit-seeking financial institutions. Due to bank nationalisation in 1969, there was an increase in Loan disbursement in urban and rural areas. Agriculture and retail traders started getting more loons. Those sectors which were not getting Loons before 1969, started getting loons in post nationalisation period. After the nationalisation of the bank branch expansion took place. There has been diversification in the functions of banks. Commercial Banks are providing different types of services like safe deposit lockers, D-mat facilities, internet banking, mobile banking, etc. |
- Write any two benefits of bank nationalisation.
- Write various services provided by banks.
- Write your opinion about the above passage.
Explain the functions of commercial bank.
Explain the functions of the commercial bank.
Explain the functions of commercial bank.
Find the odd word out:
Functions of commercial banks:
Complete the correlation:
Demand deposits : Savings deposits : : Time deposits : ______.
- Assertion (A): Commercial banks can control credit.
- Reasoning (R): Commercial banks function to earn profit.
Identify and explain the concept from the given illustration:
Sara deposited a lump sum amount of ₹25,000 in the State Bank of India for a period of one year.
Distinguish between:
Current Deposits and Recurring Deposits
Explain the functions of commercial bank.
Explain the functions of a commercial bank.
Explain the functions of commercial bank.
Explain the functions of commercial bank.
Explain the functions of commercial bank.
Explain the functions of a commercial bank.
Explain the functions of commercial bank.
Explain the functions of commercial bank.
Explain the functions of commercial banks.
