Barter System and its Difficulties   Introduction   A system of direct exchange of one commodity r service for another without the use of money is called barter. One has to exchange the product which one has in excess with those who have other surplus product with themselves.   Definitions   By R.H.Parker   Barter…

Letter of Credit in Banking   Introduction   In different countries goods are import and exports by their businessman, for import and export the reliable source for payment for importer is Letter of Credit. L.C is issued by the buyer bank in the favor of seller bank,   Definitions by Frank Henious   “A letter…

Commercial Banks Create Credit   Introduction:- Credit: –   The term credit is an evolution of a Latin word “credo” which means “I entrust and i put my faith in. The word credit has been described by GIDE in the following ways.   “An exchange which is complete after the expiry of certain period of…

Role of Central Bank The central bank is responsible for regulation and control of monetary system. Because its first priority to increasing in public interest, for this central bank developed policies for control the supply and credit money in the market, such policy called Monetary policy. Definition Simple definition Monetary policy refers to the measures…

Banker and Customer Relationship   Banker Definition G. Crowther   “A banker is a dealer in debt of his own and other peoples”     J.W.Gilbert   “A banker is a dealer in capital or more properly a dealer in money. He is an intermediate party between the borrower and the lender. He borrows from…

Term Banker and Customer   Banker Definition G. Crowther   “A banker is a dealer peoples”     J.W.Gilbert   “A banker is a dealer in capital or more properly a dealer in money. He is an intermediate party between the borrower and the lender. He borrows from one party and lends to another”  …

Central Bank & its Functions   Introduction & History of Central Bank   Money and credit play a very important role in modern society. We can derive maximum benefit from money and credit if their supply can be kept with in reasonable limits. Otherwise they will give rise to many social evils. Money supply takes…

Function of Commercial Bank   Definitions: Simple definition: “Banks are Financial Departmental stores” Experts Views:   Prof Kinley views: “A bank is an institution which receives deposits and advances loans”     According to H.L.Hart “A banker is one who, in, the ordinary course of his business, honours cheques drawn upon him by persons from…

Difference Between Epic and Mock Epic   The Epic   The epic is generally defined: A long narrative poem on a great and serious subject, related in an elevated style, and centered on a heroic or quasi-divine figure on whose actions depends the fate of a tribe, a nation, or the human race. The traditional…

Different Types of Bank   History of Bank   Money is very important and necessary to satisfy human wants. Man has been needy in every era due to which the collection and supply (receipts and payments) of money has been an essential part of human life. Different commodities have been used as money in different…