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What is bank notes?
It is money that is made of paper. It can not be photocopied.
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What is the function of a bank?
The function of a bank is deficit financing and deposit mobilization. They collect deposits from customers and grant loans to people and businesses that need financing.
They collect an interest...
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What are the function of banks?
A Bank is an institution that serves as the financial intermediary in the economy. They are responsible for cash flow within the nation's economy. Their main functions include: Accepting Deposits...
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What is the functions of banks?
A Bank is a financial institution that serves as the intermediary in the economy. They are responsible for cash flow within the nation's economy. They accept deposits from customers who have surplus...
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Can out of circulation bank notes be changed at the bank?
No, not after the notified period expires.The Bank of England advises -All Bank of England notes from which legal tender status has been withdrawn remain payable at face value forever at the Bank of...