banking Industry

May 20th, 2015
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Acadia University
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A bank is a financial institution that provides banking and other financial services to their customers such as accepting 12/8/2012 deposits and providing loans. A banking system also referred as a system provided by the bank which offers cash management services for Indian Banking System customers, reporting the transactions of their accounts and portfolios, through out the day.

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Wht is bank A bank is a financial institution that provides banking andother financial services to their customers such asaccepting 12/8/2012 deposits and providing loans. A banking system also referred as a system provided by thebank which offers cash management services for IndianBanking System customers, reporting the transactions oftheir accounts and portfolios, through out the day. The banks safeguards the money and valuables and provideloans, credit, and payment services, such as checkingaccounts, money orders, and cashiers cheques. The banksalso offer investment and insurance products.Need for Banks To provide the security to the savings of customers. To control the supply of money and credit. 12/8/2012 To encourage public confidence in the working of thefinancial system, increase savings speedily andefficiently. Indian Banking System To avoid focus of financial powers in the hands of afew individuals and institutions. To set equal norms and conditions (i.e. rate of interest,period of lending etc.) to all types of customers.FUNCTIONS OF BANKSAccepting Deposits from public/others(Deposits).Lending money to public (Loans).Transferring money from one place to another(Remittances).Acting as trustees.Keeping valuables in safe custody.Government business.TYPES OF BANKSPublic sector BanksPrivate sector BanksCo-operative BanksDevelopment Bank/Financial institutionsBanking before ITLarge no

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