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Chapter: 11th Commerce : Reserve Bank of India

Bank Definition

Banking means the accepting for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, pay order or otherwise

Bank Definition

According to Banking Regulation Act 1949, “Banking means the accepting for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, pay order or otherwise”.

 

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11th Commerce : Reserve Bank of India : Bank Definition |


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