Bank example sentences

In this way, banks mediate between those who have surplus funds (the depositors) and those who are in need of these funds (the borrowers).The bank column is balanced in the same way as the cash column.The opening balance in Receipt and Payment Account represents cash in hand/ cash at bank which is shown on its receipts side and the closing balance of this account represents cash in hand and bank balance as at the end of the year, which appear on the credit side of the Receipt and Payment Account.If Mamta gets this bill discounted from the bank then the bankers will become the payee.The specific purpose can be an extension of the existing building, construction of new computer laboratory, creation of a book bank, etc.In India, all foreign exchange transactions are regulated by the Exchange Control Department of the Reserve Bank of India (RBI).What kind of adjustments take place from this entire transaction? The commercial bank's total reserves and deposits remain unchanged (it has purchased the foreign currency from the seller using its vault cash, which, therefore, goes down; but the bank's deposit with RBI goes up by an equivalent amount – leaving its total reserves unchanged).In this case, the bank records the receipts in the firm's account at the bank but the same is not recorded in the firm's cash book.The following solved illustration will help you understand the preparation of bank reconciliation statement when there is an overdraft.ideocon Industries, Lyka Labs, Indian Overseas Bank, Jubilant Organosys, Maharashtra Seamless, Moschip Semiconductors, and Crew BOS are planning GDR issues.In this chapter we have looked at the modern forms of money and how they are linked with the banking system.But the firm will know about these transactions and record the same in the cash book only when it receives a bank statement.The government can spend some money or banks can provide a loan, to construct a well for her family to irrigate the land.It derives its strength from IMF members being willing to use it as a reserve currency and use it as a means of payment between central banks to exchange for national currencies.RBI uses various policy instruments to bring forth a healthy rdr in commercial banks.