Question

banking (c) solve any 3 different types of questions on banking ​

Answer 1

Answer:

While walking in the streets of any town or city you might have seen some signboards on buildings with names – Canara Bank, Punjab National Bank, State Bank of India, United Commercial Bank, etc. What do these names stand for? Did you ever try to know about them? If you enter any such building you will find some kind of a business office. You will find that some are depositing money at one counter while some are receiving money at another counter. Behind the counters, in the office, you will see tables and chairs occupied by officers. On one side of the office, you will also see a chamber (small partitioned room) where the manager is sitting with papers on his table. This is the office of a ‘Bank’. Let us know in detail about banks and their activities.

There are various types of banks which operate in our country to meet the financial requirements of different categories of people engaged in agriculture, business, profession, etc. On the basis of functions, the banking institutions in India may be divided into the following types:

Central Bank

A bank which is entrusted with the functions of guiding and regulating the banking system of a country is known as its Central bank. Such a bank does not deal with the general public. It acts essentially as Government’s banker, maintain deposit accounts of all other banks and advances money to other banks when needed.

The Central Bank provides guidance to other banks whenever they face any problem. It is therefore known as the banker’s bank. The Reserve Bank of India is the central bank of our country. Another important function of the Central Bank is the issuance of currency notes, regulating their circulation in the country by different methods. No other bank than the Central Bank can issue currency.

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