Bank Essays 19 essay samples found JOR Study on the Emerging Trend of Green-Banking and Environment-Sustainability through PSBSIN India ABSTRACT The problem related to the environment, the maintenance of ecological balance and environmental-sustainability have become topics of debate throughout the world · Essay on Bank: Banks are financial institutions that provide a loan or save customer’s money. The term ‘Bank’ is derived from the word ‘Banc’ or ‘Banque,’ which means a bench upon which the ancient day financiers would display their coins or transact their business in the market space. Banks are an elemental part of blogger.comted Reading Time: 7 mins · Essay On Bank Fraud In India Why Banks Privatise and What Will Be Its Impact Improving the Efficiency and Performance of Public Sector Banks (PSBs) is a key element of India’s economic transformation. It is believed to help improve performance and performance
Long and Short Essay on Bank in English for Children and Students
Banks are financial institutions that deal in monetary transactions. Banks form an integral part of any society. There are numerous banks located in different parts essay banks our country. While earlier there were limited number of banks with a few branches in big cities and towns in India, essay banks, a number of new banks have opened in the last few decades with branches in every nook and essay banks of the country.
They provide locker facilities, safe deposits, ATM Services, Fixed Deposits, money transfer, loan for business and houses and essay banks other monetary services to their customers. Here are essay on Bank in English of varied lengths to help you with the topic whenever you required. After going through these Bank essay, essay banks, your knowledge about banks, their functioning and their usefulness will enhance and you will emerge as a knowledgeable person, essay banks.
These essays will prove useful in your essay banks or college assignments, especially for students of commerce essay banks banking, essay banks. The banking system essay banks involves accepting deposits and lending money initiated centuries back in various parts of the world. The system improvised over the time and the banks these days offer various other facilities in essay banks to the basic depositing and lending of money. People are encouraged to keep their money in the banks because it is a safe and secure way to store the money.
The money stored in the bank in the form of essay banks deposits and recurring deposits also fetches a good amount of interest. In addition to money, one can also keep jewellery and important papers in the bank lockers, essay banks. Providing loans, which is another primary function of the banks, is also beneficial for individuals and businesses in many ways. Salaried people can build their assets such as property, essay banks, car, etc easily with the help of loans from the bank, essay banks.
Businessmen can expand their businesses with this facility. A essay banks of other services are also provided to the businessmen to ease their financial transactions and aid in the growth of their business. Online Banking has further enhanced the process of banking. All the customers require doing is opting for internet banking service. Banking system has been in place since centuries. The system has been prevalent in India as well as other parts of the world.
Only the services provided and the functions carried out have enhanced over the time. Banking service began back in the 14 th century in some parts of Renaissance Italy. It was initiated on the lines of the concept of lending and borrowing that took place among people since the ancient era. In the ancient times, essay banks merchants gave grain loans to the traders and farmers. This was called the barter system. Over the time the system evolved to accepting deposits and lending money.
The Fuggers, the Medicis, the Berenbergs, the Rothschilds are among some of the banking dynasties that are known to play a central role in the history of banking. They dominated this sector for centuries. Modern banking services such as issuance of banknotes and reserve banking started in the 17 th essay banks. Bank of England and The Royal Bank of Scotland are some of the oldest banks in the world.
In India, the banking system dates back to the Vedic civilization. Loans deeds in that period were known by the name rnalekhya or rnapatra. Big businessmen and landlords gave money to the small traders and farmers on interest in the earlier times. This culture is still prevalent in some villages in the country. The lands or other valuable assets of those who were unable to pay the amount were confiscated just as the banks do these days. The first bank established in India was the Bank of Hindustan.
It was opened in the year in Calcutta. Bank of Bombay, Bank of Calcutta and Bank of Madras were set up later in the early 19 th century. There are numerous types of banks in every country to cater to the needs of different customers. A bank is an institution that accepts money deposits from the public and provides funds on credit to individuals as well as firms. These are the primary functions of a bank but not the only functions.
They provide various other services to its customers such as locker facility, transfer of funds, issuance of drafts and portfolio management to name a few. Here is why these institutions are of importance:. Money kept at home is not safe.
It is prone to burglary. You do not have to worry about its security. Banks offer various schemes from time to time to encourage saving habits in people. The money put in the bank is not only saved but also grows. You have the option of withdrawing it any time you want.
Banks promote trade within the country by providing loans and advances to the traders. It also eases the process of trading between different countries. They provide easy money transaction options to smoothen the process. It is easy to send and receive funds from anywhere with the advancement in the banking system, essay banks.
Agricultural sector is an important part of the economy. There are special banks that provide loans to the farmers at low interest to promote agricultural activities, essay banks. Banks thus aid in promoting the agricultural sector. Banks accept deposits from individuals and businesses and provide loads to the industries.
They thus aid in the development of various industries in this way. The loan can be repaid in easy instalments. Banks provide loans for the growth and development of the agricultural and industrial sectors.
Essay banks these sectors expand, a number of employment opportunities are created for the public. Banks are an important part of any country. Banks play an important role in maintaining financial stability in the country, essay banks.
They offer numerous services to help you manage your finances better. These institutions thus form a essay banks part of any society. The functions of banks have broadly been classified into two categories. These are the primary functions and the secondary functions, essay banks. Here is a look at these in detail:.
Primary functions are the main functions of the banks. These include accepting deposits and providing loans. Here is a brief look at these functions:, essay banks. Saving Deposits: These deposits encourage public to save money. The money can easily be withdrawn and deposited in the saving account without much restriction. The interest rate here is however quite low, essay banks.
Current Deposits: This account is especially for the businessmen. These accounts offer facilities such as overdraft that are beneficial for the businesses. No interest is paid in this account.
Fixed Deposits: In a fixed deposit a considerable big amount is deposited in the account for a fixed period of time. The rate of interest is high in such deposits. Recurring Deposits: A certain amount is deposited at regular intervals in such an account. The rate of interest is high, essay banks. However, the amount cannot be withdrawn before a certain period.
Loans: Loans essay banks offered for both short term and long term period. The rate of interest charged on the same varies based on the type and duration of loan. It can be repaid in instalments. Cash Credits: The customers have the facility to take cash credit up to a certain amount which is fixed in advanced. A separate cash credit account needs to be maintained for this. Overdraft: This facility is for businessmen.
It is thus provided to the current account holders. They do not require maintaining a separate account to avail this facility. Secondary functions, also known as non-banking functions, are of two types.
These are agency functions and general utility functions. Here is a brief look at both these types of functions:. The bank also acts as an agent for its customers. A number of agency functions are performed by this institution, essay banks. These include collection of cheques, essay banks payments, portfolio management, essay banks, periodic collections and transfer of funds, essay banks. Banks also act as executors, essay banks, administrators, advisors and trustees for their essay banks. They help their customers deal with other institutions.
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· Bank Essay 5 ( words) Introduction. Banks are financial institutions that lend money and accept deposits from general public. Banks maintain the flow of money in the country and are important for its economic growth. There are different types of banks that offer different kinds of services to individuals as well as businesses. Types of BanksEstimated Reading Time: 9 mins · A bank is an institution that accepts deposits of money from the public withdraw-able by cheque and used for lending. Thus, there are two essential functions which make a financial institution a bank: (1) Acceptance of chequable deposits (of money) from the public andEstimated Reading Time: 2 mins Essay # 2. Role of Commercial Banks: In the modern world, banks perform such a variety of functions that is not possible to make an all-inclusive list of their functions and services. Every country needs the services of financial institutions for accelerating the pace of blogger.comted Reading Time: 7 mins
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