Question

conclusion for banking Maths project​

Answer 1

Conclusion for banking system for mathematics project-

1. The banking system is a coordinating procedure between the banks of the nation. Banks are financial institutions that deal with the financial aspect of society.

2. The Reserve Bank of India is the central bank of India.

3. The banking system of India consists of the central bank, commercial banks, and cooperative banks.

4. The banks are lending institutions that provide their customers with short-term and long-term loans.

5. Banks deal with various financial services like savings, investments, loans, and others.

6. Some examples of banks are - HDFC Bank, State Bank of India, and Indian Bank.

Answer 2

Answer:

Banking is an industry that handles cash, credit, and

other financial transactions. Banks provide a safe

place to store extra cash and credit. They offer savings

accounts, certificates of deposit, and checking

accounts. Banks use these deposits to make loans.

These loans include home mortgages, business loans,

and car loans.

Banks are a safe place to deposit excess cash.

The Federal Deposit Insurance Corporation (FDIC)

insures them.1 Banks also pay savers a small percent

of the deposited amount based on an interest rate.

Banks are currently not required to keep any percentage

of each deposit on hand, though the Federal Reserve can

change this. That regulation is called the reserve

requirement. They make money by charging higher

interest rates on their loans than they pay for

deposits.

Traditionally banks in India have four types of deposit

accounts, namely Current Accounts, Saving Banking

Accounts, Recurring Deposits and, Fixed Deposits.

However, in recent years, due to ever increasing

competition, some banks have introduced new products,

which combine the features of above two or more types

of deposit accounts. These are known by different

names in different banks, e.g 2-in-1 deposits, Smart

Deposits, Power Saving Deposits, Automatic Sweep

Deposits etc. However, these have not been very

popular among the public.

1. FIXED OR TIME DEPOSIT ACCOUNT

2. SAVING BANK DEPOSIT ACCOUNT

3. CURRENT DEPOSIT ACCOUNT

4. RECURRING DEPOSIT ACCOUNT

5. FLEXIBLE ACCOUNT

6. JAN-DHAN ACCOUNT

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