Saturday 29 June 2013

What is a Bank ? Introduction, Definition and Features of Bank

Fiance is the life blood of trade, commerce and industry. Now-a-days, banking sector acts as the backbone of modern business. Development of any country mainly depends upon the banking system.

The term bank is either derived from old Italian word banca or from a French word banque both mean a Bench or money exchange table. In olden days, European money lenders or money changers used to display (show) coins of different countries in big heaps (quantity) on benches or tables for the purpose of lending or exchanging.

Image Credits © Tardiskey

Characteristics / Features of a Bank 

Dealing in Money

Individual / Firm / Company

Acceptance of Deposit

Giving Advances

Payment and Withdrawal

Agency and Utility Services

Profit and Service Orientation

Ever increasing Functions

Connecting Link

Banking Business

 

 

 

 

 

 

 


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