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प्रश्न
Explain the following term/concept:
Bank
उत्तर
1) Bank is a financial institution that deals in money. It is an institution which accepts money as deposits and lends money in different forms. It accepts money as deposits repayable on demand with interest, through cheques, draft, and order or otherwise. Bank earns a margin of profit by the lending amount collected as deposits at a higher rate of interest to trade and industry. It is a financial institution in which those people who have surplus and idle funds deposit in it and those who need funds borrow from it.
(2) Bank is an important institution in the money market where money itself is a commodity. It provides various types of services by performing two types of functions viz. Primary functions and secondary functions. The primary function of the bank includes accepting deposits and lending funds. Section 5 (c) of the Banking Regulation Act, 1949 defines a Banking Company “as any company which transacts the business of banking in India.”
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement.
Resolution for opening Bank Account is passed in the _________ meeting.
Select the correct answer from the options given below and rewrite the statement.
Generally Interest is not paid on ___________ deposit account
Write a word or a term or a phase which can substitute the following statement:
The type of account for which higher rate of interest is paid to bank depositors..
Write a word or a term or a phase which can substitute the following statement:
Negotiable Instrument which can be discounted with the bank.
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.
Find the odd one:
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Justify the following statement:
Overdraft facility is given only to current depositors?
Justify the following statement:
The bank accept two types of deposits from the public i.e. demand and time deposit?
Explain the different types of deposits
Explain the following term/concept:
Letter of Credit
Explain the following terms/concept:
Advances
Choose the Correct Answer.
Bankers are not only dealers of money but also leaders in ______
