MEANING OF BANK
of trade keeping money and utilize of the fundamental standards of contributor bank relationship have remained
basically the same since around 500 B.C. Bank operation techniques and
strategies, then again, have experienced a steady procedure of advancement as a
result of monetary development, the mounting volume of exchanges and more
noteworthy use of having money offices. ,
Because of these
contributing parts strategies and work important to deal with the expanded area
of explain work have been created while other and snappier techniques have been
embraced so as to adapt to the expanded volume much of which has been expert
without unduly expanding the cost of working together.
Amid the most
recent twenty years we have encountered a steady progress from the old to the
new from manual to mechanical strategies and systems from old built up
practices to current procedures and to a more logical way to deal with the
arrangement of issues problems feel by everyday changes in business hones.
Our Banking System
Business as we probably am aware it now is made out of three independent capacities.
1- The securing of assets to contribute
2- The putting of such loans in advances
3- The overhauling of such supports, for
example, giving of checking/sparing offices, and the accumulation of draft,
notes and checks.
capacities, while varying in detail of operation, take after similar standards
built up several years pass by cash loan specialists and exchangers.
are foundation that appreciates people in general cash doing nothing for the
managing an account law 1962 sec (6),
the acknowledgment of sum for the reason the loaning or the speculation of
store of cash from people in general repayable on request or generally pull
back capable by checks, drafts, orders, and something else”
Broker incorporates an assortment of people whether
consolidated or not who bear on business of saving money.
characterized as one who has account with the bank. The word client connotes a
relationship in which term isn’t of the quintessence. A man whose cash has been
acknowledged by the Bank on the balance that they embrace to respect looks up
to the sum remaining to this credit is a client of the Bank in the feeling of
the statute, independent of whether his association is of short or long
standing. All the city branches accounts are mechanized.
Types of banks
principal banking and financial facilities available to serve commercial are
provided, and made available to them through five types of banks.
1. Commercial Banks
2. Trust companies
3. Saving Banks
4. Saving and Loans association
5. Finance companies