Q.1. Define and explain the term “Banking”?
The term bank or banking is one of those terms that are increasingly being used in business language. With growing importance of the financial sector of a country. Bank are considered to be the major role players.
DEFINITION
A bank is an institution that deals in money. But this definition does not cover all the aspects of banking business as it includes all persons dealing in money, which is not true to be more perfect we can say that
“A bank is an organized house which borrows money from the people for the sake of providing loan or services of monetory nature to businessmen or need person.”
EXPLANATION
An institution that accepts money of the people or organizations in the form of deposits and does its business is called a bank. Banking system of a country refers to teh working process followed by the banking institutions. It is identify through the relationship between the apex bank.
The term bank or banking is one of those terms that are increasingly being used in business language. With growing importance of the financial sector of a country. Bank are considered to be the major role players.
DEFINITION
A bank is an institution that deals in money. But this definition does not cover all the aspects of banking business as it includes all persons dealing in money, which is not true to be more perfect we can say that
“A bank is an organized house which borrows money from the people for the sake of providing loan or services of monetory nature to businessmen or need person.”
EXPLANATION
An institution that accepts money of the people or organizations in the form of deposits and does its business is called a bank. Banking system of a country refers to teh working process followed by the banking institutions. It is identify through the relationship between the apex bank.
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