Cwith the xistence of commercial banks person to person transfer of fund becomes riskless and easier explain role of central bank in this context
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Explanation:
An ACH transfer is the electronic movement of money between banks through the Automated Clearing House network, one of the biggest U.S. payment systems. The types of transfers include external funds transfers, person-to-person payments, bill payments and direct deposits from employers and government benefit programs.
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Banking plays very important role in everyone's life. ... So, one can easily understand the importance of banking in common man's life. ... A Central Bank is usually a government banks.
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