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 monitory 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 the working process
followed by the banking institutions. It is identify through the relationship
between the apex bank.
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