ICSE Class X Economics 2022 Solved Papers
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Question : 13
Total: 33
Write three differences between commercial and central bank.
Solution:
Central Bank | Commercial Bank |
---|---|
1. The central bank is the apex monetary institution which has been specially empowered to exercise central over the banking system of the country. | The commercial banks are the constituent unit of the banking system. |
2. The central bank does not deal directly with the public. | The commercial banks deal with the public directly.. |
3. It aim is to serve the country's interest. | It aim is to earn profit |
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