Banking
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Banks are financial institutions that deal with deposits, advances, and related services. They receive money from depositors and lend money to borrowers. Banking is a business of trust, as it is based on the principle that banks will honor their commitments. Key principles that banking business is based on include liquidity, safety, profitability, secrecy, service, and quality.
Banking
- 3. What is a Bank ? Introduction Finance 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. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it
- 5. ?Banking ¨C A Business of Trust: Banking ¨C A Business of Trust Banking is based on the trust that banks will honour their commitments Principles on which banking business is based ?Liquidity ?Safety ?Profitability ?Secrecy ?Service ?Quality