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Question
State whether the following statement is true or false :
Board resolution is not required to open the Current Account with the bank.
Options
True
False
Solution
False
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RELATED QUESTIONS
Write a word or a term or a phase which can substitute the following statement:
Permission to withdraw excess amount from Current Account.
Select the correct answer from the options given below and rewrite the statement.
Resolution for opening Bank Account is passed in the _________ meeting.
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 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:
The slip which is used for withdrawing money from Savings Account.
State whether the following statement is true or false :
Joint Stock Company opens Current Account.
State whether the following statement is true or false :
Banks grant long term loans only.
State whether the following statement is true or false :
Bank correspondence should be brief and to the point.
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Complete the sentence:
Overdraft facility is given to __________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Primary Function | __________ |
Attempt the following:
Write a letter to the bank to stop payment of cheque.
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
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:
Current deposits
Correct the underlined word and rewrite the following sentence:
Accepting deposits is the secondary function of Banks.
Explain the following term/concept:
Loans
