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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.”
APPEARS IN
संबंधित प्रश्न
A bank which is known as bankers bank.
Reserve Bank of India cannot accept deposits from public.
Distinguish between the following:
Current account & Recurring deposit account
Write Short Note on the following:
Types of banks
Choose the Correct Answer.
Which bank is not an Industrial Bank?
Explain the types of banks based on ownership patterns.
Which of the following banks regulate the supply of money in the economy?
RBI is ______.
The ______ of a country serves as the leader of the banking system and the money market.
“The central bank is a banker’s bank.” Explain.
What is meant by an overdraft facility given by a commercial bank?
"The central bank is the lender of the last resort." Explain.
Give two agency functions of commercial banks.
Explain main functions of commercial bank.
What is meant by the central bank of a country?
______ are of several types, e.g., commercial, central, industrial, merchant, exchange, agricultural, cooperative, postal and indigenous.
Explain the four functions of the Reserve Bank of India.
Which bank specifically supports India’s exports and imports through long-term finance?
Which type of bank provides only basic banking services and is not allowed to give loans?
How do banks act as financial intermediaries in an economy?
