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Bank / Banking – Meaning, Characteristics, forms of Finance companies. “A organization for custody of income which it will pay down on customer`s purchase”

Part 5(B) of Banking Regulation Act describes Banking as “Accepting, for the intended purpose of investing or providing, deposits of cash through the community, repayable on need or usually”

The definition of lender comes from a word that is italian’ and from a French term ‘banque’ both meaning a workbench or Money change tables.

A lender is a lender which addresses deposits and improvements as well as other relevant solutions. It gets funds from those that would you like to save cash in the shape of deposits and lends to people who require it.

The Oxford Dictionary defines a bank as

Traits of a Bank / attributes of Banking

  • It might be an Individual/Firm/Company
  • It’s a revenue and solution focused establishment
  • It will act as a connecting link between borrowers and loan providers
  • It relates to cash
  • It takes deposits from community
  • It gives Advances/Loans/Credit to clients
  • It gives re re Payment and detachment services
  • It gives Agency and Utility Services

Forms of Bank