ICSE Class X Commercial Applications 2022 Solved Papers

Question : 27

Total: 36

State three points of difference between Central Bank and Commercial Bank.

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. It has the sole right to print and issue currency notes,	4. It does not have right to print and issue currency notes.

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