1.

What do you mean by a current account?

Answer»

Current account: An account in which money may be deposited and withdrawn at anytime is called current account. Generally, it is operated by the Business houses. Under this account, the depositor can withdrawn money by cheque at anytime during the working hours of the bank. There are no restrictions to limit the number of withdrawals but minimum credit balance has to be maintained as per the rules of the bank. The bank does not pay any interest on such deposits.



Discussion

No Comment Found

Related InterviewSolutions