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Question

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Name five types of accounts which can be opened in the banks ?

Solution

The commercial banks accepts deposits in the following accounts :

1. Savings Bank Account,

2. Fixed Deposit Account,

3. Current Account,

4. Recurring Deposit Account and

5. Miscellaneous Account.

Some More Questions From Business Services Chapter

What do you mean by the term warehousing ?

What do you mean by Public Warehouse ?

What is meant by cold storage houses ?

Explain any three considerations which a business firm should take into account for choosing a suitable mode of transport.

Under the principle of subrogation, why does the right of ownership of damaged property pass on to the insurer after the compensation has been paid to the insured ?

How does the insurance distribute the loss ?

What do you mean by specialised banks ? Give three examples of specialised banks.

Write down the types of postal services.

Name the services included in postal services.

Write down the non-banking services of postal services.

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