This article throws light upon the four main types of advances that can be availed from a bank. The types are: 1. Secured Loans 2. Cash Credit 3. Over Draft 4. Clean Advances. Type # 1. Secured Loans: These types of advances are granted against the collateral securities of different kinds, such as bullion, government securities of raw material or [...]
The common forms of credit instruments are: 1. Cheque 2. Bill of Exchange 3. Draft 4. Letter of Credit 5. Hundi 6. Promissory Note. Form # 1. Cheque: A cheque is written order addressed to a banker, signed by the person who has deposited money with the banker to pay an amount of money specified on the order to a [...]
List of top four earlier period banks of India:- 1. Bank of Hindustan (1770-1832) 2. The General Bank or General Bank of India (1786) and Bengal Bank 3. Bank of Calcutta (1806) or Bank of Bengal 4. The Presidency Banks. 1. Bank of Hindustan (1770-1832): In 1690 one of the Agents of East India Company Mr. Job Charnok selected Calcutta [...]