ICSE Class 10 Commerce 2022 Solved Papers
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Question : 13
Total: 29
State three differences between Central and Commercial banks.
Solution:
| Central Bank | Commercial Bank |
|---|---|
| 1. It is the apex institution of a country's banking system. | 1. It is one of the banks in a country. |
| 2. It is owned by the Government. | 2. It is generally owned by the shareholders. |
| 3. Its aim is to serve the country's interest. | 3. Its aim is to earn profit. |
| 4. There is only one central bank in a country. | 4. There are several commercial banks in a country. |
| 5. It is banker to the Government. | 5. It is banker to the general public. |
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