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प्रश्न
Explain the following term/concept:
Demand Deposits
उत्तर
1) The deposits which are repayable on demand is called demand deposits. The demand deposits include saving deposits and current deposits. A saving deposits account aims at promoting the habit of saving among the fixed income earners. Interest at certain rates is paid on the minimum balance in this account. There are restrictions on the number of withdrawals. A passbook is issued to the depositor. E-statement issued to depositor only on demand.
2) A current deposit account is meant for businessmen and institutions. There are no restrictions on the number and amount of withdrawals from this account. Interest is not payable on the balance standing in this account. Overdraft facility is granted only to current account holders after following the prescribed procedure of the bank.
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
The account which is generally opened by business organization.
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.
Bank provides overdraft facility to ___________ account holder.
Select the correct answer from the options given below and rewrite the statement.
Withdrawals are not permitted from the ____________ deposit account.
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 |
Write a word or a term or a phase which can substitute the following statement:
The slip which is used for withdrawing money from Savings Account.
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 :
It is necessary to instruct the bank to stop payment of a cheque which is lost.
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Answer in one sentence:
What is a Letter of Credit?
Answer in one sentence:
Which facility is given to Current Account holder?
Attempt the following:
Write a letter requesting the bank to issue a letter of credit.
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Explain the following term/concept:
Letter of Credit
Explain the following term/concept:
Discounting of Bills
Explain the following term/concept:
Savings Deposits
Correct the underlined word and rewrite the following sentence:
Under Cash Credit facility businessman /Accountholder can overdraw from his account.
Explain the following term/concept:
Fixed deposits
Choose the Correct Answer.
Bankers are not only dealers of money but also leaders in ______
Write the meaning of ‘Bank.’
