Deposits in a bank by opening a bank account which can be withdrawn on demand are known as
Deposit
Currency
Demand deposits
Cheque
The second important function of commercial bank is
Agency function
Providing loan
Credit creation
Transfer of funds
A __________ is a paper in instructing the bank to pay a specific amount from a person's account.
Loan
Demand deposit
The first bank in India was established in
1770
1806
1801
1782
The issue of currency is undertaken on behalf of state by the
State bank of India
Reserve Bank of India
Canara Bank
Federal Bank
The 14 commercial banks were nationalized in the year
1969
1951
1949
1980
The essential feature of _______ is that the buyer and seller have to agree to sell or buy each others commodities.
Money
Demand
Barter system
Commercial banks are also able to transfer funds of a customer to other customer’s account through
Cheques
Draft
Credit card
All the above
The Reserve Bank of India has been publishing data on ________ alternative measure of money supply.
Two
One
Three
Four
Find out the primary function of money
Store of value
Measures units value of goods & services
Transfer of value
Standard for deferred payment