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Business Services-2 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-23 Marks
Question
Write short note on call money.
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Answer

  • Sometimes banks need money for very short time, even for less than $24$ hours.
  • They feel short of money in this situation.
  • RBI appointed agency takes money from the bank which surplus money and gives it to the needy bank.
  • Money receiver bank does not come in contact with money supplier bank and its financial problem is solved.
  • The amount demanded k obtained within time. This is called 'Call Money'.
  • The rate of interest of call money is determined on the basis of demand. Supply of money in the market.

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