Which bank deals with short term of credit A. Agricultural bank B. Comersial bank C. Industrial Bank D. None of these
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Explanation:
Answer b) Commercial bank
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B. Commercial bank deals with short term of credit
Explanation
- A commercial bank is a type of financial institution that handles all transactions involving money deposits and withdrawals for the general public.
- These banks are for-profit companies that do business only for the aim of creating a profit. They are licenced deposit-takers, offering a variety of savings accounts to individuals and companies.
- In order to create revenue, the bank accepts deposits and distributes monies to various programmes (profit). Retail banking services are provided by commercial banks to both residential and commercial customers.
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