Question

The system which accepts deposits from the public and lends money generally to trade and commerce is known as

• A. Investment banking
• B. Retail banking
• C. Pure banking
• D. Personal banking

Answer 1

Answer:

C. Pure banking

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.