Banking Awareness Questions:
Banking is nothing but services or business conducted by banks. In simple words, banking is nothing but safeguarding money of individuals or companies and giving money to someone else who is need of money and getting back money along with interest.
Below are the activities bank sector is providing now days.
1. Issuing debit cards and credit cards.
2. Giving Personal Loans and Home loans.
3. Locker facility system.
4. ATM services.
5. Online transfer of money across the globe.
6. Payment of bills like mobile bills, DTH bills and other.
7. Mobile recharge option.
8. EMI on debit cards and Credit cards.
It is a financial institution where it plays a vital role in our day to day life. It is the most important for economy.
Banking System is defined as through which money of one country can handled and created. One of the most important key factors for banks is Trust. If some has trust they only they are willing to deposit or take money or any other things they can do.
There are two type banks we have. Those are.
1. Investment Banks
2. Commercial Banks or Retail Banks
Commercial Banks mainly deals with deposits, withdraws and giving short term loans to small scale business where as Investment banks advise corporation on capital market and corporate reorganization to clients.
Central banks are supervising commercial banks and controlling interest rates and flow of cash.
India’s central banking institution is Reserve Bank of India which controls the money. Head Quarters are located in Mumbai, Maharashtra. It was founded on April 1st 1935.
Click here for Awareness notes May 01 – Bank Awareness Notes 1
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