CBSE Class 11-commerce Answered
The commercial
banks are not similar to the Central bank. Justify the statement.
Asked by Topperlearning User | 29 Jun, 2016, 12:15: PM
Expert Answer
- The Central bank is the apex bank and is also known as a bank of all the banks. A commercial bank functions under the control of the Central bank.
- The Central bank focuses on social welfare, whereas a commercial bank focuses on profit maximisation.
- The Central bank does not accept deposits, whereas a commercial bank accepts deposits from the public and provides loans to individuals and households.
- The Central bank issues currency, whereas a commercial bank has no authority to issue currency.
- The Central bank is an advisor to the government on monetary issues, whereas a commercial bank is not an advisor.
Answered by | 29 Jun, 2016, 02:15: PM
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