Commercial Applications

An account holder of a Bank maintains a Passbook. Write any two features of it.

Banking

3 Likes

Answer

Two features of a Pass Book are:

  1. Extract of customer's account — The pass book is an extract or copy of the customer's account in the bank's ledger as on a particular date. It is issued by the bank to the customer as a record.

  2. Records all transactions and balance — The pass book shows all deposits and all withdrawals made by the customer along with the balance in the account on each specific date. The customer brings it to the bank from time to time to get it updated, or uses a passbook printing machine.

Answered By

3 Likes


Related Questions