Page 97 - VIRANSH COACHING CLASSES

8. Suitability
It is suitable for transport- It is suitable for It is suitable for It is suitable for
ing the goods in relatively transporting heavy transporting way heavy transporting light
smaller quantities for short goods in large goods, machineries in weight perishable
distance. quantity over long large quantities to any and valuable goods
distance. part of the world. to any part of the
world.
9. Safety

It provides limited safe- Goods are kept Goods are safe as they Goods are safe as
ty to goods from the sun, in locked wagons are specially packed. they are specially
rain, wind, etc. which provide pro- packed.
tection against sun,
wind, rain, etc.
10 Accidents
Chances of accidents are Chances of Chances of accidents are Chances of
more due to poor road accidents are less less in waterways. accidents are
conditions and negligent because of one way less because of
drivers track and good maintenance and
signal system. expert pilots.
11. Ownership
Ownership is in the hands Ownership is in It is owned by both It is owned by
of private parties as well the hands of the private sector as well as both private sector
as the government. Government. public sector. as well as public
sector.

Summary

Business Services:
1. Banking 2. Insurance 3. Transport 4. Warehousing

5. Communication

1. Banking:
Types of Banks:
1. Central Bank 2. Commercial Bank 3. Co-operative Bank 4. Development Bank

5. Exchange Banks 6. Regional Rural Bank 7. Savings Bank 8. Investment Bank

Functions of commercial banks:
I. Primary Functions II. Secondary Functions

2. Insurance:
Principles of Insurance:
1. Principle of Utmost good faith

2. Principle oflnsurable interest

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