CURRENT AFFAIRS

Detailed explanation-1: -Commercial banks provide basic banking services and products to the general public, both individual consumers and small to midsize businesses. These services include checking and savings accounts; loans and mortgages; basic investment services such as CDs; and other services such as safe deposit boxes.

Detailed explanation-2: -a) Cash Credit Cash credit is an arrangement whereby the bank allows the borrower to draw amounts upto a specified limit. The amount is credited to the account of the customer. The customer can withdraw this amount as and when he requires. Interest is charged on the amount actually withdrawn.

Detailed explanation-3: -Retail and Commercial Banks Products offered at retail and commercial banks include checking and savings accounts, certificates of deposit (CDs), personal and mortgage loans, credit cards, and business banking accounts.

Detailed explanation-4: -The categories under priority sector are as follows: Agriculture. Micro, Small and Medium Enterprises. Export Credit.