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प्रश्न
What is a commercial bank?
What is meant by the term commercial bank?
उत्तर
- A commercial bank is a profit-driven business that deals in money and credit. This is a financial institution that accepts public deposits and holds them in safe custody.
- Additionally, it provides credit to those in need by advancing money from deposits. It serves as a reason for saving in the economy.
- A bank serves as an account for household savings and interest-bearing loans for commercial and productive purposes.
- The Banking Companies Act of India defines Bank as “A Bank is a financial institution which accepts money from the public for the purpose of lending or investment repayable on demand or otherwise withdrawable by cheques, drafts or order or otherwise.”
APPEARS IN
संबंधित प्रश्न
Reserve Bank of India cannot accept deposits from public.
Write Short Note on the following:
Types of banks
State with Reasons whether the following statement is TRUE or FALSE:
Central bank (RBI) connot accept deposit from the public.
Distinguish between:
Fixed Deposit Account and Recurring Deposite Account.
Give the meaning of Commercial Banks?
Briefly explain about Correspondent Banks?
Explain the types of banks based on ownership patterns.
Distinguish between the Central Bank and the Commercial Bank.
Public Banks are the banks which are ______.
Which of the following is a Commercial Bank?
It carries out the country's monetary policy.
______ is the apex institution of the country's monetary and banking structure where as ______ is one of the organs of the money market.
Central bank is owned by the ____ while commercial bank is owned by ______.
Name the largest commercial bank of India.
Name one development bank.
"The central bank is the lender of the last resort." Explain.
Explain main functions of commercial bank.
What is Banker's Cheque?
How do exchange banks help in financing foreign trade?
