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Top 7 Credit Instruments of a Bank | Banking

This article throws light upon the top seven credit instruments of a bank. The instruments are: 1. Cheque 2. Hundi 3. Bank Draft 4. Bill of Exchange 5. Promissory Note 6. Trade Bills 7. Accommodation Bills. Credit Instrument # 1. Cheque: According to Section 6 of the Negotiable Instrument Act, 1881, "A cheque is a bill of exchange drawn upon [...]

By |2017-03-07T09:30:43+05:30March 7, 2017|Instruments|Comments Off on Top 7 Credit Instruments of a Bank | Banking

Essay on Bank: Origin, Meaning and Functions | Banking

After reading this article you will learn about:- 1. Origin and Development of Bank 2. Meaning and Definition of Bank 3. Classification 4. Functions 5. Advantages or Importance. Origin and Development of Bank: There is no unanimity of opinions about the origin of the word 'Bank'. According to some monetary experts, the word 'Bank' is derived from 'Banco'. 'Bancus', 'Banque' [...]

By |2017-03-07T09:27:59+05:30March 7, 2017|Banking|Comments Off on Essay on Bank: Origin, Meaning and Functions | Banking

Deposit Accounts Provided by a Bank: 3 Types | Services | Banking

Banks attract money from the public by accepting deposits in the following accounts: 1. Current Account 2. Savings Bank Deposit Account 3. Fixed or Time Deposit Account. Type # 1. Current Account: It is also called 'Open Account' or 'Demand Deposit Account'. A businessman can open a current account with the bank. Customers can deposit money into or withdraw money [...]

By |2017-03-07T09:27:59+05:30March 7, 2017|Banking Service|Comments Off on Deposit Accounts Provided by a Bank: 3 Types | Services | Banking
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