What is the difference between cheque and Demand Draft? A cheque is basically issued by an individual but a draft is issued by a bank. In a demand draft you have to pay before issuing while a check is withdrawn from the account. What is the difference between Private bank Nationalized bank? Nationalized banks are also known as public sector banks where the government is responsible for the deposition of money in these banks while in a private bank money is deposited by the person who owns the bank. What is sensex and NIFTY? Sensex and Nifty both are an “index”. Index is like a indicator which gives us a general idea whether the stocks have gone up or have gone down. Nifty is an index of NSE (National Stock Exchange) while Sensex is an index of BSE (Bomabay Stock exchange)