Types of Customers in Bank
Banking, Business

Types of Customers in Bank

Following are the major kinds of bank’s customer. Individual Customer Joint Customer Trustee Business Organizations Non-Trading Concerns Government Organization 1. Individual Customer: Any person literate or illiterate but not a lunatic, mental patient, drug addict or bankrupt etc. can open an account with bank. The bank demands a photograph from an illiterate person and he also requires thumb expression on…

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MONETARY POLICY VS FISCAL POLICY
Banking, Business, Commerce, Differences, Economics

MONETARY POLICY VS FISCAL POLICY

MONETARY POLICY NEED FOR: If the monetary system of the country is unorganized then the balance of demand and supply of credit disturbs. Due to which the economic system of the country faces many difficulties. If the amount of credit increases in any country the country becomes inflation stricken, which leads to the problem of dearness. However, if the amount…

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Central Bank and Commercial Bank
Banking, Business

Difference Between Central Bank and Commercial Bank

Central Bank: Central bank is an institution which is charged with the responsibility of managing the expansion and contraction of currency and credit for the maximum welfare of the country. Central bank basically works for the fulfilment of financial needs, economic stability and for the growth of banking system. The objective of central bank is not to earn the profit…

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