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Business Services-2 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-22 Marks
Question
Why inter- banking transactions are carried out ?
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Answer

  • Each bank sometimes for very short time, say for $24$ hours or less than that needs money.
  • It informs the Reserve Bank and through the agency gets money from the bank which has unutilized fund.
  • 'Thus inter- banking transactions are useful in settling money crisis of bank.

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