Define a bank. [Class 10th CBSE]
Answers
Answer:
A bank is a financial institution that accepts deposits from the public and creates Demand Deposit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries.
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Answer:
A bank may be defined as a company which collects money from the public in the form of deposits and lends the same to borrowers. it is an institution that provides facilities for sae keeping, lending and transfer of money.
or
A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks. In most countries, banks are regulated by the national government or central bank.