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Define Explain the Following Concept. Safe Deposit Vault - Economics

Short Note

Define explain the following concept.

Safe deposit vault 

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Solution

Safe deposit vault: Safe deposit vault facility is the general utility service offered by commercial banks. Under this service, consumers are allowed to retain their valuables such as shares, bonds, gold and silver ornaments etc. in the lockers at a payment of a fixed rent. This service provides the customers with privacy and easy access to their valuables.

Concept: Commercial Banks
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 12 Commercial Banking
Exercise | Q 1.3 | Page 110
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