OCM 1 Marks Each

Through debit card, the card holder can spend as much amount as the balance in his account.

Savings account.

Current account can be opened in the name of a business unit.

According to Reserve bank of India , bank is an institution which accepts financial deposits for stipulated time on condition of returning on demand.

On the same day when instruction is received money is transferred in the said account.

When the time period of overdraft is fixed then it is called Cash Credit.

In term deposit account the rate of interest is higher because from this account amount can not be withdrawn for fixed period.

In saving account withdrawal transaction is limited in a month.

The term ‘bank’ is derived from the Italian word ‘Bobco’.

Banking service is useful to agriculture , education, regarding and social sector besides commerce .

When the bank issue the draft which can be enchased only in the same city then it is known as pay order.

Bank carefully studies the account of the customer and considers his capacity to pay debt. Then after decides the amount of Credit Card.

a Without visiting bank through mobile having internet connection, bank transaction carried out from any corner of the world is mobile banking.

A Bank performs the following financial functions on behalf of customer. Payment of telephone' bill, Payment of tax, Payment of electricity bill.

With the use of Internet. With the use of internee: Core banking, e-banking, mobile banking etc. are easy to use

For this purpose banks have made arrangement of e-corner or e-gallery.

Bank procedure has become very fast and easy by linking computers of bank with internet.

Banking transactions which are not physically but electronically done them it is called e-banking.

Money lent to the customer or a businessman at a time for long term is called loan.

Businessmen needs money for the development of business. Money lent to him keeping in mind the stock and recovery of business is called Cash Credit.

Facility to withdraw the amount more than the balance in the account is called overdraft.

System through which member banks transfer money online. This is done between the member banks.

Demand Draft means a cheque written by one bank to the branch of another bank.

Current account is open only in the name of business unit.

to maintain trust of depositors is the greatest responsibility of bank.

In the Roman Empire money lender known as ‘maselo’ by name was doing his business in the middle of the closed place, sitting on a long bench known as ‘bench’. It was a small , temporary shop.