BANKING AFFAIRS

Detailed explanation-1: -Banks accept deposits as chequeable deposits and non-chequeable deposits.

Detailed explanation-2: -NBFCs are often called shadow banks as they function a lot like banks but with fewer regulatory controls. Barring a few, they cannot accept deposits from people and so raise money from bonds or borrow from banks.

Detailed explanation-3: -Hence, Issuing of Notes is not the function of a Commercial Bank.

Detailed explanation-4: -Traditionally, there are four types of bank deposits in India, which are-Current Account, Recurring Deposits, Savings Accounts, and Fixed Deposit Accounts.