Question

Deposit Banking system originated in

• A. France
• B. Germany
• C. England
• D. Italy

Answer 1

Answer:

C. England

Deposit Banking:

• Originated in England
• Deposit banking is also known as Pure banking.
• It accepts deposits from the public and lends money generally to trade and commerce.
• They accept deposit for a short period
• Pure banking is specialized in short term finance
• In India, Commercial banks acts as Deposit Banks also.