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the banks which are not under the purview of second schedule of RBI Act.

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16y ago

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What services does Citizens Business Bank provide?

Citizens Business Bank offers all the services that you would find at any bank. For example you will find every thing that you need for your personal use such as checking and savings accounts. They also have all the services that a business would need.


What is an example of a merger?

Two car companies, who may or may not be competitors, merge to form one larger car company to market the vehicles they produce. An actual example would be the merger of Daimler-Benz with Chrysler to form Daimler-Chrysler (1998-2007). Another example is a common one - mergers of banks. Toronto Dominion bank and Canada Trust bank merged and became TD Canada Trust.


What is an example of a business man making an ivestement?

One example of a businessman making an investment is Warren Buffett, who is known for his long-term investment strategy through his company Berkshire Hathaway. In 2011, he invested $5 billion in Bank of America, purchasing a significant stake to support the bank during a challenging period. This investment not only provided the bank with capital but also demonstrated Buffett's confidence in its future growth, ultimately yielding substantial returns.


What is collateral as it relates to the business?

The word collateral in business is that the bank has rights to take away your collateral or something that you put in stock that you own. For example, John owns a farm and he took a loan. The problem is that he didn't deposit his loan in the bank back, so the bank took his collateral that he put in the bank if he didn't pay his loan back. So that is why the bank has John's farm. So I prefer that if you take a loan, then pay your loan back. Or else your collateral is bye-bye.


What are non-resident deposits?

Non Resident Deposits are deposit accounts created by customers who don't reside in the country where the bank operates. For example if you go abroad on work and then open a fixed deposit in a bank in India, it will be termed as a Non-Resident Deposit.