Question

Give reasons "Overdraft facility is provided to current account holders".

Answer 1

a) Better quality products:-Business is required to provide better quality products to improve ... 15) i) Natural causes: Human beings have little control over natural calamities like ...

Answer 2

The reasons behind "Overdraft facility is provided to current account holders" is as follows:

• Current account holders are provided the short time borrowing or overdraft facility.
• Through the inter-bank connection, the account holders credit information can be passed to the creditors.
• In the country, progress of industry is facilitated by this.
• If a current bank holder has insufficient balance, still he can pay bills. This process is allowed by overdraft facility.
• There is a fee for per overdraft, this way bank gets the profit.