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The deposit account is a liability of the bank and an asset of the depositor (the account holder). On the other hand, a bank can lend some or all of the money it has on deposit to third parties. Such accounts, generally called loan or credit accounts, are subject to similar but reverse principles of a deposit account.
Savings accounts are very popular in India, and almost 80% of the population have one, with many having multiple savings accounts. [4] The reserve bank has also introduced Basic Savings Bank Deposit Account [5] which has certain limits, but allows customer to start a bank account with no minimum balance.
A deposit slip or a pay-in-slip is a form supplied by a bank for a depositor to fill out, designed to document in categories the items included in the deposit transaction when physically depositing at a bank.
Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer.
[4] Publishing in India was at the time dominated by the British, and most books and magazines were imported from England. [5] Shyam Lal Gupta entered the market by publishing two books at a lower cost than the prevailing rates. The first textbook to be published by S. Chand was a "Textbook of Physical Chemistry" by Prof. Bahl & Tuli.
Kamta Prasad Guru (1875 – 16 November 1947) was an expert on grammar of Hindi language. He was the author of the book Hindi vyakarana. He was born in Sagar, which is today in Madhya Pradesh state in India. His Hindi grammar book has been translated into many foreign languages. Kamta Prasad Guru died in Jabalpur.
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
If the customer has accounts in different branches of the same bank, all of those accounts are clubbed together and the total sum is insured to a maximum of ₹5,00,000. [6] However, if there are more accounts in same bank, all of those are treated as a single account. The insurance premium is paid by the insured banks itself.