Current account also known as financial account is a type of deposit account maintained solely or jointly for carrying out large value transactions on a regular basis. Current accounts relate to liquid deposits and unlike savings account, they do not provide any interests. Current accounts are primarily opened by businessmen such as proprietors, partnership firms, public and private companies, etc.
The primary objective of the current bank account is to enable the businessmen holding accounts to carry out the financial business transactions smoothly. All banks in India provide various types of current accounts. However, keeping in consideration the minimum current account balance factor or the Monthly Average Balance Requirement, Zero Balance Current Accounts are the most suited ones.
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