The Term " BANK " is defined by prof. Sayers as " Banks are institutions whose debt-usually referred to as bank deposits-are commonly accepted in final settlement of other people's debts".
A/c to Banking regulation Act 1949 ,"Banking means the accepting for the purpose of lending or investment of deposits of money from public, repayble on demand or otherwise , and withdrawal by cheque, draft, order or otherwise.'
Functions:
1) Reciving deposits from the public
2) Making loans and advances.
3) Use of cheques systems and plastic cards
4) Transfer of Funds,
5) Other Functions:
Safety Vaults
Acting as a agents
In short Bank performs all the function which brings profits!
2 comments:
This is right information about to banking.it is done that all the process and function are performed for getting something in the term of money or profit.But could you tell me please that what is the advantages of this to a bunkers that he deposit a lot of money of different customers, let me know how much ratio of interest they have charged on his customers?
Plastic Card
شركة تسليك مجاري بالخبر
شركة تسليك مجاري بخميس مشيط
شركة تسليك مجاري بالاحساء
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