30. Bank Transactions

The recent development in banking system is.

• Nationalization of Banks

• Privatization of Banks

• Globalization

• Banking services in Post offices

Businessmen and Traders usually open this account in Bank.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

Banks do not give any interest on this bank account.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

Overdraft facility is available for this bank account.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

RBI belongs to this group.

• Central Bank

• Commercial Banks

• Industrial Development Banks

• Co-operative Banks

These deposit accounts are generally opened for a purpose to be saved for a future date.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

This type of account is opened for a fixed period by depositing a particular sum of money.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

DCC bank of our city is a good example for this Bank.

• Central Bank

• Commercial Banks

• Industrial Development Banks

• Co-operative Banks

Usually Banks offer more rate of interest to...

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account

The account can be dealt any number of transaction in a day is.

• Saving Bank Account

• Current Bank Account

• Recurring Deposit Account

• Fixed Deposit Account