2(c) Banking - functions of the Central Bank and Commercial banks, types of accounts and banking transactions.
Functions of the Central Bank and Commercial banks and differences between the two.; types of bank deposit accounts (Savings, Current, Recurring, Fixed Account) and differences; requirement for an account holder for operating a bank account - Pass book, cheque book, Pay-in slip book; Advantages of bank account, advantages and disadvantages of cheques; When can a bank refuse payment of a cheque; Automated Teller Machine (ATM); difference between Cheque and Bank draft.