GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IBS
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CBS
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DBS
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POS
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Detailed explanation-1: -6. Which one of the following allow bank customers to effect transfers of funds from their deposit accounts and other financial transactions at retail establishments? At the Point of Sale (POS), the retailer would calculate the amount owed by the customer and provide options for the customer to make payment. 7.
Detailed explanation-2: -Commercial Banks A commercial bank is a type of financial institution that accepts deposits, offers checking account services, makes business, personal, and mortgage loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Detailed explanation-3: -There are three major types of depository institutions in the United States. They are commercial banks, thrifts (which include savings and loan associations and savings banks) and credit unions.
Detailed explanation-4: -Definition of Wholesale Banking-Focuses on financial needs of institutional investors.