Why do we need banks?
Who prints money in India? How the Reserve Bank of India prints and distribute currency notes to several commercial banks. In this Issue, we take a closer look at what this Bank do with all the money
Every individual earns salary for the job he she does keeping aside what is needed to Spend rest is deposited in an account in a bank.
The bank hold a Record of how much money each person has stored with it these records are called bank accounts. Each bank account has a unique number at any given point of time, bank account holder may required only a transaction on the amount stored. when such a need arises, the bank gives money either in cash (currency notes) or through an electronic transfer. But the amount needed must be within the stored with the bank.
Who prints money in India? How the Reserve Bank of India prints and distribute currency notes to several commercial banks. In this Issue, we take a closer look at what this Bank do with all the money
Every individual earns salary for the job he she does keeping aside what is needed to Spend rest is deposited in an account in a bank.
The bank hold a Record of how much money each person has stored with it these records are called bank accounts. Each bank account has a unique number at any given point of time, bank account holder may required only a transaction on the amount stored. when such a need arises, the bank gives money either in cash (currency notes) or through an electronic transfer. But the amount needed must be within the stored with the bank.
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