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प्रश्न
What is a commercial bank?
What is meant by the term commercial bank
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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 orders or otherwise.”
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संबंधित प्रश्न
How is a commercial bank different from a central bank?
Select the proper option from the options given below and rewrite the sentences:
In E-business, payments have to be made ______
State with Reasons whether the following statement is TRUE or FALSE:
Central bank (RBI) connot accept deposit from the public.
What are Foreign Banks?
Explain the types of banks based on ownership patterns.
The ______ function of the Central bank involves the settling claims of Commercial banks through a process of book entries.
What is a Central Bank?
RBI is ______.
Which of the following is a Commercial Bank?
Name one development bank.
What is meant by an overdraft facility given by a commercial bank?
Give two agency functions of commercial banks.
Describe the advantages of opening a bank account.
What is a Banker’s Cheque?
Why was EXIM Bank set up in India?
Which type of bank mainly provides long-term credit for agriculture?
Which bank specifically supports India’s exports and imports through long-term finance?
Development banks like SIDBI and NABARD mainly focus on ______.
Which type of bank is most closely associated with foreign trade finance and foreign exchange services?
